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TMR Tip: Don’t Raze the Roof

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RoofWell, the stormy season has arrived and, in Illinois, that means it’s time to expect the unexpected. Heavy rain? Probably. Severe storms? Sometimes. Tornadoes? Occasionally. Hail? Sure, why not? Which also means it’s the season for solicitors. Specifically, roofing “specialists”.

In our neighborhood, we’ve had an influx of roofing contractors knocking on our doors offering free inspections for hail damage from a recent storm. I remember it well. I was in my classroom and several of my students jumped from their seats and flooded to the window to see the hail bounce off the lawn. A few weeks later, I answered the door to find a man with a clipboard and a smile. I offered up a cautious smile (complete with inward eye roll) as I held back my wildly barking dog. (She’s really just a big marshmallow, but I secretly enjoyed the unsure look on his face as he backed up a few steps.) He informed me that he and his crew were going around the area giving free estimates to homeowners and that it would only take him about ten or fifteen minutes to walk around my house and assess the damage.

Huh. Well.

First of all, I don’t like the fact that he blew by his, and the company, name and launched into his rapid-fire spiel. (I guess maybe he expected me to read the tiny lettering on his polo from fifteen feet away?)

Second, I don’t like being told that he is going to walk around my house, assuming that he has permission to do so.

So, I held up my hand to stop him as he began to turn, ready to start his little tour of my property. I informed him that I was not comfortable with him inspecting my house without me or my husband present, that I was not interested in getting an estimate at this time, and that I would not be moving forward with any kind of inspection or repair to my house without speaking with my husband and our insurance company.

He then said, “It’s ok. We’re good. We’ve talked to all of your neighbors on this side, over here,” he gave a vague swoop of his hand toward some houses. How nice. “And four of them have signed up with us already today, so . . .”

So . . . I told him again that I wasn’t interested, thanked him, and wished him a nice day. Then I closed the door.

Later that same day, the same man knocked on our door again, only this time I made my husband answer the door. Ten minutes later, hubby walked through the door with a doubtful shake of his head and a sarcastic smile. He informed me that the man had identified several spots on our roof and siding where there was hail damage. We went outside and I laughed. First, because my husband’s impression of the man’s intensity was spot on, second, I really couldn’t see what all the fuss was about and third, I personally knew that one of the “dings” on the downspout was not, in fact, caused by hail, but by a wayward Frisbee.

Long story short, we decided not to get our roof fixed, even with the generous $500 credit the man was willing to give us to help with our insurance deductible. It just didn’t feel right. Something was off. We felt like we were being hustled – especially when we found a note on our door that read, “I got seven of your neighbors! Don’t be left out!”

Turns out our instincts were right. We received a letter from our association stating that several homeowners have complained about contractors soliciting in the neighborhoods and that one was so bold as to say that the association had contracted them to do so. No way, says our association. Not true. They also provided us with two articles to help us make informed decisions about who we hire to make repairs on our homes. (I’ve included them at the end.) Here’s what I learned . . .

They’re called “Storm Chasers”. They usually watch storm reports and then send out teams of people to the affected areas. They’re pushy and eager to offer free estimates, they create scenarios to make homeowners nervous, and they know how to manipulate insurance companies. Here are some of the red flags to look out for:

  1. Out-of-town license plates Not only is this a sign that they’re ‘chasers’, but it also means that, once they’re done, they move on and won’t be around to fix any problems that may arise as a result of their poor workmanship.
  2. P.O. Box If they don’t have a legitimate street address, it could be incredibly difficult to track them down if you have any problems. Also, the phone number they provide could be temporary (which can be easily disconnected once they leave the area) or has calls forwarded to an out-of-state number.
  3. They have their own adjusters This person works for the contractor, not an insurance agency, and does the property damage assessment. They know how to write the claim to convince your insurance company to pay for a new roof.
  4. It has to be done now! They’re going to try every trick in the book to get you to agree on the spot. No time to waste! Or who knows what will happen the next time a storm rolls through . . . .

So, yeah. These people are pretty crafty, but you don’t have to fall victim to their schemes. There are some things you can do to ward of the predators so they don’t raze your roof and raise your blood pressure.

  1. Trust your instincts If they show up at your door unannounced, offering free estimates, a big discount, and their visit just happens to coincide with recent violent acts of nature – politely decline and close the door! If it sounds too good to be true . . .
  2. Do your research Make sure they’re legit. Contact the BBB and check their status as well as how long they’ve been a member. (If they’re brand new members, it could be a red flag for you.) See if they have a website or if anyone has heard of them.
  3. Ask them for proof You have every right, as a homeowner, to ask for proof of insurance, and that they are properly licensed. Then, check it out to make sure it’s true.
  4. Ask for a business card, brochure, or identification Make sure they have a legitimate street address and local phone number. Maybe even suggest a visit to their office . . . you’ll have to choose colors, right?
  5. Get a permit Many counties and associations require a permit before making repairs or additions to the existing structure of your house. Find out, then don’t do anything without one.
  6. Talk to your insurance company first Contact your insurance company before agreeing to, or signing, anything. Your agent is the expert and will explain all that needs to be done before moving forward. (Just be sure to ask how your premiums will be affected if you make a claim.)
  7. Ask around Talk to family, friends, and neighbors who have had repairs or replacements done and find out who they hired.

These are just some of the things to watch for and do if a contractor comes a knockin’. Remember, unless your roof has been severely damaged or ripped off by a storm and it’s raining in your bathroom, there’s no big rush to get repairs done tomorrow. Don’t panic, take your time, do your research, talk to your insurance company, and find a reputable company to do the work.

For more information and tips on how to save yourself from the frustration of fraud, read these articles:

https://www.angieslist.com/articles/roofing-scam-storm-chaser.htm

http://www.wikihow.com/Spot-a-Storm-Chasing-Roofing-Contractor-After-a-Disaster

 

Thanks to the director of my homeowners association, who keeps us in the loop about what’s going on in our neighborhood and for sharing these articles with us. Thanks, also, to wikiHow and Angie’s List for creating these helpful articles.

On a personal note, kudos to the REAL Storm Chasers out there who risk their lives in order to study severe weather so that we can be informed and stay safe. I find it all very fascinating.

Questions, Questions . . .

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Got some for me? Questions about The Money Roadmap program? About me? How about a previous post on the site? Or maybe questions about money management in general? Advice?

Just ask!

I’ll be adding another feature called “Q & Amy”. If you have a question for me, simply go to the ‘Contact’ page, fill out the quick online form and send it. Or, you can now email me at amy@themoneyroadmap.com! I’ll do my very best to answer your questions as soon, and as thoroughly, as I can. I will post the questions and answers on the website. Who knows, your question may help someone else! And don’t worry – I won’t use your name. I promise. And if you’d rather keep the question between us, just let me know. Not everyone wants their questions posted and I completely understand.

I hope to hear from you soon!

 

Please keep in mind that I will only answer questions related to the subject matter on this website. I will not entertain solicitations, spam, profanity, or otherwise inappropriate material.

TMR Tip: Get Back to School for Less

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Ah yes . . . just when summer really gets rolling, it comes to an abrupt halt. Time for school!

And back-to-school shopping.

That task alone is enough to send some of us into hiding. Or a panic. I, personally, don’t like shopping of any kind. My motto: Get in, get it, and get out! Which is why I’m always looking for shortcuts. You too? These tips might help . . .

  1. Figure out what you actually need. My kids sort all their unused supplies and check them against their new supply lists. They highlight only the things that they need. That instantly reduces how much I’m going to spend at the store. Why buy things we already have?
  2. Check out all the ads. Every retailer has deals on school supplies. Glance through the ads to find the best prices. (By the way, Gregory Karp of the Chicago Tribune says that if a store puts a limit on how many you can buy, then it’s a really good deal.)
  3. Spread it out. I usually favor the once-and-done tactic, but if I find a great deal at another time, I buy it. Not everything goes on sale the same week and some weeks I can find better deals than others. You just need to keep an eye out for them.
  4. Use coupons and/or discounts. Whether you clip coupons or subscribe to a retailer’s email program, use them to your advantage. Find the best deal, then break out the discounts.
  5. Look where you least expect to find a deal. Karp suggests looking at places that aren’t on the typical back-to-school radar. He says places like Menards can have awesome deals on supplies that end up being free after the rebate.
  6. Take advantage of your smartphone. There’s at least one app (and I’m sure a few more) that lets you scan the bar code on an item and instantly compare prices as you’re standing in the store. My hubby thinks this is really cool and has a little too much fun with it.
  7. Get it tax-free. Many retailers are offering “tax-free” days. You can load up on school supplies and save money simply by not paying sales tax. Check the papers and online ads to find out which stores participate.

Hopefully these tips will help alleviate some of the anxiety that comes with shopping for school supplies – and clothes, for that matter. Apply these same strategies when trying to dress your children for the next big step. Happy shopping!

TMR Tip: Does it Pay to Sign Up for Retail Rewards?

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How many times have we heard, “Do you have our rewards card?” I don’t know about you, but I’ve lost count. It seems that virtually every retailer has its own rewards program nowadays. They offer everything from percentage and dollars off to money back and store credits. There are so many – too many – and it can leave us confused and frustrated. So how do we decide which ones are worth signing up for? Here are several things to keep in mind when standing at the checkout, trying to make a split-second decision about that rewards program . . .

1) Make sure it’s FREE. If it’s not, forget it. Walk away now.

2) Find out what the rewards are. Dollars off? Percentage discount? Points? Rebate or reward checks?

3) Find out what you have to do to earn the rewards. Do you accrue the rewards with every purchase, over the course of a year, or only if you spend a certain amount? (Or all of the above?)

4) Find out how you can redeem the rewards. Are there restrictions on what you can buy? Can you combine it with sale prices or other discounts? Is there a time limit? Is it in-store? Online?

5) Find out if there are other perks associated with the program. Do you get extra opportunities to earn rewards? Do they offer cardholders/members a higher percentage off? Do you get to shop the sales earlier than the general public?

6) Consider how often you shop at that particular store. Do you rarely make an appearance or do they know you by name?

It only takes about 30 to 60 seconds to find out this information. You alone can determine whether or not to sign up for a retailer’s rewards program. I don’t recommend jumping on board for every one that you’re offered. Too many cards and you won’t be able to close your wallet or fit your key chain in your pocket. But if you can find a few that save you money and give you a little something to show their gratitude for being a loyal customer, (and a reason to go back!) then go for it. It’s your time and money. You do have control.

Things Are A-Changin’

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That’s right. I’m making a few changes around here. Several, actually, that I hope to unveil over the next few months. So please, bear with me while I work to make things better. I’ll start slowly . . .

First, I’ve changed the look of my website a bit. Nothing drastic, but an improvement, I think. Brighter. More inviting. I’ll be changing some of the items as I go. Check it out. I hope you like it.

Second, we can say ‘goodbye’ to Tuesday’s Tip. Why? I feel that publishing only on Tuesdays is no longer productive or practical for me. I want to write and post articles whenever I feel inspired or when I have noteworthy tidbits to share with you. Therefore, that’s what I’ll do. The new title? Simple. TMR Tip. After all, that’s what this is really about, isn’t it? Navigating our own routes with The Money Roadmap. And who couldn’t use some tips along the way? I know I do. In fact, I’ve been doing quite a bit of reading and I’ll be sharing my findings very soon.

Thanks for your continued patience and support as I work on making my passions a reality. I hope you come back to visit soon!

P.S. Be sure to sign up for email alerts by clicking “Follow The Money Roadmap”, then enter your email address. It’s the easy way to keep up with what’s new on TMR!

The Roadmap Challenge – Your Turn

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It’s been a month already. Wow. Time flies. Did you take The Roadmap Challenge during the month of April? If so, I’d like to hear from you! Who knows, you could win the free consultation with me . . .

Fill out the form and let me know how you did!

← Back

Thank you for your response. ✨

I look forward to hearing from you!

Tuesday’s Tip: Take the Roadmap Challenge (Part 2)

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Well, it’s been a week since I introduced the first part of the challenge. Did you try it? How did it go? Did you notice anything about your spending habits? Were you surprised by anything? Many times we’re shocked by how much we spend. We don’t realize that those ‘little things’, the inexpensive items we buy on a whim, can actually add up to quite a bit when it happens on a regular basis. Think about what you saved in one week – and now imagine that on a slightly grander scale . . .

Which leads me to the next part of the challenge, in three steps.

Step 1: Take a good, hard look at your expense log from the past week. Is there anything you could stand to cut back on or do without? (Answer HONESTLY!!!) You may find that there are a couple of things on your list. That’s ok.

Step 2: Pick just ONE thing on your list and cut it out for the next 30 days. April 1 – 30. One month.

Step 3: Keep track of how much you save over the course of the next month.

I’m not asking you to give up every extra expense, just one. Pick one that’s the most frequent purchase. Or maybe one that’s the most unhealthy. Or the most expensive one. Whichever one you pick, do without it for the next month. On April 30, take the amount of money you saved and multiply it by 12 to see how much you can save in a year. Then ask yourself, What else could I do with that money? Pay down debt? Make an extra payment on something?? Pay something off???

Once you’ve done that, contact me and let me know what you cut out of your spending, how much you saved in a month, how much you’d save in a year, and what you learned from the experience. If you do, you’ll be entered into the contest and you could win a FREE consultation with me. You’ll get the Money Roadmap package which includes my book, a binder, and ledger paper, plus I will help you set up your own Roadmap and teach you how to use it.

There it is. The Roadmap Challenge. Try it. What do you have to lose? More importantly, what could you gain with good money management??

Good luck! I know you can do it! I can’t wait to hear from you!

Today is April 1st. Ready . . . set . . . GO!

Tuesday’s Tip: Take the Roadmap Challenge (Part 1)

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Ah, Spring! Aren’t you excited? More sunshine. Longer days. Warmer weather . . . ok, I choked on that one, too. (For those of us living in the Chicago area, we’re still waiting for that last one!) But still, when I think of Spring, I think of trees budding, flowers blooming, grass greening, and I’m filled with a sense of renewal. That’s what Spring is all about, isn’t it? Things beginning anew. Fresh starts. And . . .

SPRING CLEANING!!!

When I say that, most people think of the mile-long “Honey, Do” list taunting them from the fridge door: cleaning out the closets, going through the stuff in the garage, and washing windows, to name a few. But I’m talking about cleaning in a more financial way. The concept is the same though . . . go through your stuff, keep what’s necessary, and get rid of the rest. Think of it as clearing up and reorganizing your finances.

Over the years, I’ve had many people ask me what they could do to accomplish that particular goal and my answer is always the same: Grab a pencil and paper and keep track of all the money you spend in a month, then sit down, take a very close look at it to figure out where your money is going, and determine what you need and what you can do without. (Coincidentally, it’s one of the first steps outlined in my book!!) Most of the time, the reaction is the same – jaws drop to the floor.

“A whole month?” they ask.

“Yes. A whole month,” I reply.

“That’s a really long time,” they complain.

“Yes, it is,” I say, “But it’ll give you a solid picture of where all your money is going.”

“And we have to write down ALL of it?” they ask.

“Yes. ALL of it. Every dime. Bills, credit cards, EVERYTHING you buy in CASH. ALL of it.”

Again, jaws drop to the floor. What I’ve found, however, is that everyone who was truly serious about taking control of their finances followed my advice and were astonished by what they learned at the end of that month. They also learned that, by doing away with some of the extraneous items they didn’t realize were emptying their wallets and bank accounts, they were able to save quite a bit of money. In some cases, hundreds of dollars a month. Some people even told me that after just one or two weeks of tracking their expenses, they could easily see which unnecessary items they could cut back on, or cut out completely.

Don’t believe me? Ok. Let’s consider my friend, “Lucy”, who once told me that she’s addicted to a mocha coffee concoction and has to have it every morning on her way to work. She says she wants to get a good jolt to start her day, so she orders a large. Ok. With tax, she pays $3.58. Multiply that by 5 work days. That comes to $17.90 per week. Multiply that by, say, 49 actual work weeks in a year. The total now becomes $877.10 per year. Hmm . . . I can think of a few things that I’d rather do with $877 than drink coffee . . .

Still don’t think that makes a difference? Ok. Try this one on for size. Let’s say you go out to eat two times per week. For the sake of making it easier to calculate, let’s estimate that you spend about $50 per week. $50 multiplied by 52 weeks comes to $2600 per year. I suppose if you really want to get goofy, imagine you get a mocha coffee every day AND go out to eat twice a week . . . that’s almost $3500 per year that could go toward something else. And that’s just for two people. What about a family of 3? 4? 5? It boggles the mind.

So, here’s my challenge to you: Track your extra expenses for the next week and calculate how much money you could save per month and per year by cutting back or cutting them out. I’m not even talking about bills. I’m talking about those extra things you put on your credit card or things you pay for in cash. Those dinners out. Those lattes in the morning on the way to work. Movies. Drinks with friends every weekend. Try to focus on the extra little things that you pay for fairly often. Is there a habit forming?

Now think: What would happen if you went 30 days without them? Would it make a difference in your finances? Are you willing to find out?

Stay tuned for Part 2 of the Roadmap Challenge . . .

Tuesday’s Tip: It Doesn’t Hurt to Ask

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I’ll admit that, when it comes to bartering for a deal, I’d rather leave it to my husband. He always seems to be on the lookout for a good deal. Aren’t we all? But what sets him apart is that he finds new deals on products or services we already have and doesn’t hesitate to act if he thinks we may be getting a raw deal.

Case in point: About a week ago, he saw a commercial by our current cell phone provider offering a better deal than the one we have now. I have to say it got him a little fired up. “Are you kidding?” he scoffed. “That’s like . . . $80 less than what we pay now! Unbelievable! Maybe we should call and complain!” (Not quite the word he used, but whatever.) I told him that if he felt that strongly about it, then he should call. He should call. Not me. I’m not comfortable with that. Don’t know why. It doesn’t matter.

Anyway, after a few days, a couple more commercial sightings, and some mental number-crunching, he decided it couldn’t hurt to call and ask if we could get in on the deal. He picked up the phone and dialed. We spoke to a very nice man who told us that we could, in fact, get the same advertised price. We have 5 phones. Do we have to upgrade all the phones? Not at all. Will it affect our contract? Nope. We have automatic billing. Do we have to set that up again? No. When will the new price take effect? Immediately. So our next bill will be lower? Uh huh. So we’ll have unlimited talking and texting? Yes. And tons more data? Yep.

Alrighty, then! Do it!

And so, with one phone call (that lasted less time than being on hold) we got more for less. We’ll be saving $80 per month. That’s $960 per year. I like that. And I love that my husband took care of it all. He’s always got an eye for a good deal. Maybe it comes from being a closet conspiracy theorist or simply not wanting to get screwed over, but whatever the case, I’m glad he’s in my corner!

Tuesday’s Tip: Break the Bad

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Everywhere I go, I hear new year’s resolutions being flung around as freely as candy from a parade float. People are vowing to make changes to better themselves, their lives, their communities, and even the world. However, the most common goal, by far, was to lead a healthier lifestyle, which encompasses a multitude of different options ranging from losing weight to exercising more to breaking bad habits. And that got me thinking . . .

Breaking a bad habit is tough to do. I know, first hand, how hard it is, but I also know how wonderful it feels to be successful – in more ways than one. I confess that I used to smoke. (There it is, folks.) I tried to quit several times, but always seemed to give in eventually. I was smoke-free for quite a long time before having kids and during my pregnancy, then started again when they were about 6 or 7 months old. It was easy to blame it on stress, of course. Then, when they were almost 2, I finally managed to quit altogether and have been rid of the habit for over ten years. Don’t get me wrong, there are days I seriously wonder why the heck I ever quit! Then I think about all the progress I’ve made as a runner, how much I love it, and how smoking would completely ruin it, and I decide it’s not worth it. So, you could say that I’m enjoying the health benefits of being a non-smoker.

Just recently, I noticed a sign at the corner gas station advertising a sale on cigarettes: $6.85 per pack. Wow! I couldn’t believe it. That’s a lot more than I used to spend over a decade ago. And that got me thinking about the cost of being a smoker now. What would I be paying if I were still smoking? When I got home, I grabbed a calculator and did a little experiment to find out the financial benefit of not smoking. I know the cost per pack varies depending on location, but I live in the Chicago suburbs, so I’m going to use the average for this area, which is about $7.50. Ok. Let’s see. I used to smoke about 10 cigarettes per day. That means it would cost me $3.75 per day . . . times 365 days . . . that comes to $1,368.75 per year. If I smoked a pack a day, then the cost rises to $2,737.50 per year. Really? I was amazed at the numbers starting at me from the calculator. I instantly thought of a few things I could do with an extra $2,700 per year. Then, just for kicks, I multiplied that number by 5 . . . $13,687.50 saved in 5 years. Holy cow! Then I took one step closer to ridiculous and calculated the savings for 10 years. I nearly fell off my chair! $27,375. Amazing! Do you know how much house you could pay off with that money? Or you could buy a nice little car! You could save it for a rainy day . . . or college . . . grad school . . . vacations . . . retirement . . . The list goes on and on.

And what about other costly habits? I could think of a couple. How much could people be saving by kicking those bad boys to the curb? They don’t even necessarily need to be bad for you, like smoking was, for me. What about that iced coffee on the way to work everyday? Or eating out for lunch everyday? Or even twice a week? How about takeout dinners? Shopping every weekend? Blah, ba-blah, ba-blah . . . Please understand that I’m not suggesting we all become hermits, eat ramen and rice for the rest of our lives, deprive ourselves of things we need, and never do anything fun – we gotta live, right?! The trick is to be sensible about it.

Moral of the story: breaking a bad habit, or any habit that drains your pocketbook, could potentially save you more money than you think. Don’t believe me? Pick a habit . . . do the math. See what happens. The truth lies in the numbers. Cutting out a habit, or at least scaling way back, could mean some serious extra cash in our pockets. I don’t know about you, but I like that!