Tag Archives: focus groups

Home Ownership or Rental?

13 Comments

When it comes to renting your home vs. owning, many people have long said that it’s always cheaper in the long run to own. Even if your mortgage payment is a couple hundred bucks more than rent, you get tax breaks. Plus, when you’re done paying, it’s YOURS. So it’s smarter in the long term.

But times are tight, and many folks don’t have the luxury of thinking “long-term.” And home ownership numbers have taken a hit. Despite historically low 3.7% interest rates…

The home ownership rate in the U.S. fell slightly from 66% to 65% during the first quarter of 2012 — the lowest in 15 years, according to the latest data by the U.S. Census. (It peaked at just over 69% in 2004.) SmartMoney.com

Basically, people with stable jobs and equity in their existing homes are buying new ones, but nobody is buying their old house. So there are a bunch of single-family homes being rented now…about 1/3 of all rentals.

So, while nationwide it IS still cheaper to buy rather than rent, there are a few places in the country where that formula is upside down, including:

  • Northern New Jersey: Mortgage is $529 higher than rent, with some of the highest property taxes in the US.
  • Long Island, NY: Same story.
  • California: Like, all of it. Has the greatest number of counties where it is cheaper to rent.
  • Seattle, WA: One place rents for $2000/mo, while a comparable place costs $4000/mo to buy – and that’s WITH a 20% down payment!
  • Honolulu, HI: I guess you could always live on the beach, right?

So, are you renting or owning? By choice? How about your friends and family? Let us know…and have a great weekend!

Fill the Money Pit Wisely

2 Comments
Um, yeah…you’ll need more than that.

They say the average US household has lost 40% of its wealth in the last 5 years, largely due to plummeting home values.  Often, when people can’t sell, they renovate. Either they are trying to make the house they are stuck in more livable, or make it more attractive to a potential buyer. And no matter what they spend, they tell themselves it’s not an expense, but an investment.

It’s the magic phrase uttered by almost anyone who’s ever considered the cost of home remodeling: “We’ll get it back when we sell.”  Unless you keep those projects practical, though, you might just be kidding yourself.   Bankrate.com

Then they list the types of remodels you might want to avoid:

  • Home Office: Will cost you up to $29,000 but you’ll only get 46% back upon sale.
  • Backup Power Generator: Hey, they had that windstorm in Ohio a couple of years ago, and my mom was without power for 2 weeks! But this once-in-a-blue-moon convenience costs about $15K, and you will get back 45.8% upon sale.
    Adding a Sunroom: Costs $75K, and you will get back about half of that.
  • Upscale Master Suite Addition: Succumbing to HGTV envy will cost you upwards of $220K and, again, you could make half of that back.
  • Adding a Bathroom: $20K to $40K, depending on your tastes, and a 53% return.
  • Garage Addition: Dad’s dream is expensive, up to $90K, and you will get a 54% return.

There’s more at the original article, so check it out!

(photo: homesnhouses.com)

Wait…Tattoos are PERMANENT?

1 Comment

Call it a sign of the times. Doctors are reporting a rise in patients seeking tattoo removal… in order to improve their chances of employment!

Tattoo removal is up 32% over the last year, according to The Patient Guide, a website comprised of 25 skincare publications.  The site reports that many of the patients say they’re undergoing the treatment for employment-related reasons.  NY Daily News

Either it’s college grads regretting their youthful ink, or it’s older people who have been laid off and looking for new jobs. The offending ink is often at the wrist or neck.

One doc is seeing 20 (!) patients a day. And it ain’t cheap! Tattoo removal can take up to 10 sessions, at $200 a pop.

I have to say, of all the things we can tell kids right now, in this horrible job environment, avoiding the ink is near the top! What do YOU think? Reasonable? Or dumb, old-fashioned prejudice?

(photo: yabucket.com)

It Just Got All MEMORIAL Up in Here!

4 Comments

Long Memorial Day weekend ahead and, boy, this underemployed blogger could use the break! 😉 Just for fun, I went poking around the web looking for Memorial Day topics.

First, some history. Memorial Day began as a way to honor the Civil War dead. They think the first community wide observation was in 1866, but the first large-scale ceremony was at Arlington Cemetery in 1868. It expanded to honor the dead of all wars after World War 1.  It became an official, take-Monday-off holiday in 1971. Did you know you are supposed to observe a moment of silence at 3pm local time on Monday? I had never heard that.

Anyway, the Department of Veteran’s Affairs and USA.gov have a bunch of links about:

…and more, so check ‘em out!

Finally, for all you consumers (and MindField fans) out there, a website that tells you about all of the sales at durn near EVERY store in the country: MemorialDaySalesDotNet

Happy Memorial Day weekend, MindFielders! Have fun, be safe and, most importantly, HONOR those who sacrificed all!!

Saving on Groceries!

4 Comments

Last week, we fished around for some blog ideas from our MindField family. One idea seemed particularly popular: rising food prices.

A big factor in rising food prices is rising gas prices. With diesel fuel at $4.00 a gallon, it just takes more resources to get your food from the field to the table. What can we do about that? In the short term, not much.

So, what can you do to save some money and STILL eat well, without switching to Vienna sausage and Kost Kutter Kanned Kreamed Korn? WebMD has listed 10 tips. Here, as we say, are the bullets:

  1. Buy produce in season. Ever grow a tomato plant? You wait and wait, and then BANG! You have more tomatoes than you can give away. Same deal here. In season, they are priced to move.
  2. Use sales and coupons. You know how you (and by You, I mean Me) mock that lady in the store with her thick binder of coupons? Stop doing that.
  3. Brown-bag it. Ever go to Panera or Atlanta Bread for lunch and, no matter what you order, you spend $9.00? Stinks, right?
  4. Think frozen, canned, or dried. You may not know it, but most of these items are processed at the peak of their freshness and nutritional value.
  5. Save on protein foods. To quote Modern Family, “I AM spontaneous…‘eggs for dinner’ was MY idea!”
  6. Waste not, want not. Did you know that Americans produce over 30 million tons of food waste every year? We are awesome that way!
  7. Go generic. Remember what I said about Kost Kutter Kanned Kreamed Korn? Forget it.
  8. Buy prepackaged only if you need it. That pre-washed Bag o’Salad is convenient, but you’re paying for that convenience.
  9. Buy and cook in bulk. Sam’s? Costco? If you have a big family, it might be worth the $100/year to join.
  10. Plant a garden. And plan on shooting squirrels. I hate how they take one bite of a tomato, ruining it, and then remember that they don’t like tomatoes!

There’s a lot more information at the original article, so check it out! What about you? Any suggestions?

(photo: dreamstime.com)

Financial Compatibility in Marriage?

2 Comments
Shadow-people have problems just like the rest of us.

How well do you and your spouse sync when it comes to handling money? Do you agree, or agree to disagree – or just plain disagree? Did you and your honey have to come to an understanding when you tied the knot? Did you manage to do it before you got into trouble?

Maybe that’s all in the rear view mirror, but what about your kids? Are they grown and ready to get hitched? Do you worry about them or their prospective mates? Well, you might have good reason to be but, fortunately, there are some steps you can take to avoid disaster.

Even though research suggests that married couples are more likely to accumulate wealth and meet certain financial goals than their single peers, disagreements over money can derail those plans. Before tying the knot, experts recommend that couples have a series of talks about money to prevent conflicts later.   USNews Money

Here are the bullets, but be warned: some of them are not terribly romantic!

  • Know each other’s credit histories. An uncomfortable discussion now avoids surprises later. Trust me, a friend got a big surprise when she learned her new husband had previously failed to pay child support and was having his wages garnisheed FOR THE REST OF TIME.
  • Separate or joint accounts? There are good arguments for either one.
  • Long-term goals. Save for a house or retirement – or party like it’s 1999?
  • Spending styles. More often than not, you will be opposites. But that can be a good thing! You can learn from each other… or just fight a lot.
  • Who does what? Somebody has to take charge of writing the checks, licking the stamps, etc. Thankfully, it’s not me.
  • Dealing with relatives. What happens when your broke sister-in-law’s car breaks down? That could get really hairy if you don’t plan ahead.

Personally, my wife and I get along fine in this area because we pretty much addressed each of these items early on. How about you?

Anyway, it’s a good article, so check it out.

(photo: stefangauciscicluna.com)

Gender-neutral Toys?

4 Comments

An article (more of an editorial, really) at USNEWS.com, entitled “5 Reasons Not to Buy Your Daughter Pink Legos,” begins like so:

Gender segregation starts early these days, with color-coded diapers, blankets, and binkies. Most of us seem happy with this arrangement, spending some $22 billion on toys every year. But when one company recently went too far, the response was swift.

I was immediately reminded on the ONE “Cathy” cartoon I have read in the past decade (I swear.) Cathy is determined to find a gender-neutral toy for her niece. Combing through the toy store, she finally gets an idea: plastic dinosaurs! Unfortunately, they only have two kinds – Dinosaur Commando Squad and Dainty Dino Beauty Shop.

I knew she would say that.

Anyway, Lego did a bunch of research, found that girls were playing with Legos, and figured they might play with them MORE if they were building little kitchens, beauty shops, etc. As a result, a petition protesting the idea went up online, and supposedly has 50K signatures.

This author lays out her case. Here are the bullets:

  • Girls are already surrounded by gender stereotypes wherever they turn.
  • Girls love Legos, even without the new line for girls.
  • Classic children’s toys that stand the test of time are usually gender-neutral.
  • Buying the new Lego line will lead to more gender-specific toys.
  • Strong girl role models abound, and they don’t have to look like models.

That’s her view…what do YOU think?

(photo: classictcj.com)

Great news for our 50+ Panelists!

17 Comments

Feel like you get fewer surveys as you get older? You’re not alone. But MindField Online is doing something about it! first, some background…

From time to time on the Facebook page and the MindFieldLive blog, we hear from older folks who suspect that they are receiving fewer survey invitations due to their age. Almost always they add, “This doesn’t make sense! Seniors have money, they buy things – don’t their opinions matter?”

Well, the situation may seem frustrating right now. But we are confident things are going to change. The Baby Boomers are aging, and the number of older folks is growing. The need for consumer research in the older segment is only going to increase. And that change just might be coming sooner than you think!

And, on that note….

Mindfield recently entered into a partnership and conducted two pilot tests combining product intent questions for eight different companies/manufacturers who have particular interest in this segment of the population. If continued efforts are successful, you should begin seeing renewed energy resulting in surveys for the mature market segment.

So, it’s a pilot test. An initial success we hope to build upon. In other words, a step in the right direction. We hope you agree, and we thank you for your membership, your participation, and your PATIENCE.

Extreme Measures for Extreme Couponers?

5 Comments

We talked a while back about the Extreme Coupon trend currently sweeping the land. Now, it seems like retailers are tightening their policies.

Supermarkets have a delicate balance to maintain: They don’t want to alienate their coupon-loving customers, but they also don’t want to disappoint non-extreme shoppers who can’t buy sale items because some (extreme couponer) has just emptied the entire shelf. Time.com

What are the stores doing to frustrate Extremes? Well, one lady figured out a way to get chocolate milk for free – plus an 11-cent bonus. So she bought 34 of them! Wal-Mart made her purchase all 34 individually. 34 transactions, 34 receipts, 34 hands full of pennies! Meanwhile, Kroger’s is moving to prevent you from “stacking”…that is, combining paper and online coupons for the same item.

So, are you an Extreme-r? Have you experienced any pushback from the retailers? Tell us about it! You can read the original Time article here.

Nutty but Legitimate Tax Deductions

yoink!

Tax time approaches, and there is often little to smile about. But if you’re a whaling captain or an accused criminal, and you’re looking for some last minute deductions, you’re in luck! From TurboTax:

Whale Tale: You can claim up to $10,000 for repairs to your whaling ship. The catch is you must be a Native American!

Orthodontic clarinets? A 1962 ruling said that clarinets were helpful in correcting a child’s overbite. So, if you have a prescription clarinet, claim that sucker as a medical expense!

The Dog Paddle Deduction: I have a brother-in-law with a bum knee who has been told by his therapist to swim every day. If that’s you, you could claim your swimming pool as a deduction!

Butts for Bucks: The various tools, tricks and prescriptions for kicking the smoking habit are often deductible.

Volunteer for the Wrong Reasons! If you have to hire a babysitter when you do volunteer work, that’s deductible!

Deductible Defense: Crime doesn’t pay, but sometimes your legal defense is deductible!

Bow-wow Bonus! The cost of a guard dog may be deductible from your taxes. Enough to offset your higher homeowner’s insurance premium? Probably not!!

There are more goofy deductions here. Have you heard of any other weird deductions? And aren’t you glad our tax code is so delightfully simple?