For many years I’ve participated in Pinecone Research. I enjoy being a panelist. They send you surveys and products to try and you get compensated for your time and energy by getting $5 per survey (unless it’s household questions) and $5 for every product you try. Well, I guess I should say you used to. About a year ago, they changed new sign ups to get paid $3 per survey and entered into a drawing to win $500. They have recently sent out a study to current members that were still getting the $5 basically telling them that they are changing everyone to $3 per survey and sweepstakes.

I think it sucks. Sure, there are times you answer questions and don’t get compensated for them, but they really aren’t that bad. There is an option to leave it at $5 a survey, but it basically says if you do that you probably won’t be getting very many surveys. I think I’m going to go ahead and change to the $3. Do I like it? No. But I do enjoy being a part of Pinecone Research and want to continue doing so.

Do you do Pinecone Research? What do you think of the recent changes? Is $3 good enough?

Posted under Make Money Online

With the current home values dropping record lows, it’s an obvious fact that you should stay in your current home unless it’s absolutely necessary to move. While I may not be 100% content with this, I’m going to follow my own advice and stay put for at least a couple more years. I have decided that since we’re staying, I’m going to do some more home improvements to make us happier with our current home and increase the value as much as I can.

Here’s our list of things we’d like to do in the next 1-2 years:

1. Finish installing the hardwood floors in our hallway, master bedroom, and living room.
2. Redo the kitchen flooring. Right now it is vinyl flooring and we haven’t decided if we’re going to do tile or hardwood.
3. Paint the office and hallway (easy).
4. Redo master bathroom. We’d like to rip out the shower, install a new one, along with a new vanity and light fixture. I’m going to tile the bathroom floor myself to save money.
5. Install new carpet into our extra bedroom and office.

That’s pretty much all I’ve got planned for the interior of the house. I think that every project I’ve got planned will increase our home’s value and we’ll get great joy out of it. If you are thinking about selling your house, you may want to consider just doing some basic home improvements to make yourself like it more. Kitchens and baths always bring the most return, so if you are unhappy with those areas, that’s where I would start. A lot of home improvement projects you can do yourself these days if you’re a little ambitious. I have successfully tiled one bathroom and installed a few rows of hardwood flooring. If I can do it, you can do it!

 What are some home improvement projects you’d like to do and are planning on doing to your house?

Posted under Economy, Home Ownership

A few days ago I opened a new checking account for a very nice lady that came in asking about our free checking accounts. As I was talking with her about her lending needs, she asked me about “the loans that let you make flexible payments”, AKA home equity lines of credit. I was telling her about how they work; the minimum payment is interest only, so if you only pay the minimum payment you won’t get anywhere, but if you pay the amount you pay now on your mortgage, everything above the minimum payment goes towards principal. She thought it was a great idea, she’d be paying less than she pays for her mortgage payment each month, and it would free up some money for her and she’d be not as strapped for cash each month. I put an application in for her.

Declined.

I was a little taken aback, until I looked at her credit report. Her credit score? 494. That is the lowest credit score I’ve ever seen! I took a look and realized why it was so low. She had been 60 days late on her mortgage 3 times, and 90 days late 9 times. I was shocked. When I called her to let her know the decision, she acted surprised. I asked her if she had been late on any of her payments lately. She told me she’d been late a few times. A few times?? How can you be 90 days late 9 times?

This example is a perfect example of one of the sub prime loans and why it is a good idea to not get into a mortgage payment you can’t afford, and also why it’s important to make your payments on time. Because of her being late so many times, her credit score is trashed. I feel sorry for her, but on the other hand I don’t. She is the one that got herself into the situation, and she’ll have to get herself out.

Do you feel sorry for people like this who have overextended themselves?

Posted under Loans, Money Mistakes