5 Golden Rules for Choosing the Best Stock

Choosing to invest in a stock can be a nail-biting decision. But if it checks off a few golden rules, it might be a winner. These are 5 Golden Rules for Choosing the Best Stock.

With the popularity of exchange traded funds (ETFs), buying individual stocks seems to be falling out of favor. But for rugged, self-directed investors, it’s still a preferred route to investment success. But if you’re new to investing in individual stocks, what are the rules for choosing the best stock?

Here are a few that will help.

1. Invest in Companies that Dominate their Industries

Have you noticed that the same companies keep coming up in different portfolios? It doesn’t matter if we’re talking about index funds, actively managed mutual funds, or individual portfolios designed by investment managers. Names like Amazon, Apple, McDonald’s, and Facebook come up again and again.

There’s a reason why that happens, and it’s not just because investment managers all gather information from the same sources. It’s because certain companies dominate their respective industries. That makes an investor’s job a lot easier.

Not only do such companies have a strong track record of industry domination, but they have an uncanny knack of coming out with new products and services that are well received by consumers.

This isn’t an accident. Such companies have the capital, know-how, and energy to turn out winning products and services. There’s never a guarantee they’ll continue doing this going forward. But the fact that they have a track record of doing it consistently in the past is an excellent indication of continued success.

2. Invest in Businesses You Understand

There are literally thousands of different companies you can buy stock in. Some of them are well-known companies, selling everyday products and services. Those are the companies you should invest in.

There’s a close correlation between the success of a product or service, and the performance of the company stock. And when a product is common, it means it’s well understood and accepted by the consuming public. If you understand the company’s products, and particularly if you already use them, you have a solid understanding of how the company works.

Another category includes companies engaged in industries where you have above average understanding. It could be because you’re employed in the industry, or have been in the past. Or it might be because you have a particular interest in a certain industry, even if you don’t currently use any products and services it produces.

On the other side of the spectrum, stay away from companies you don’t understand. For example, there are a lot of upstart drug companies that may be showing considerable promise. But many of them are selling on promise alone. That is, they’re working on an experimental drug that’s expected to make a major medical advance. But until they actually have a breakthrough, and begin marketing the product, they’re not profitable–they may not even have a cash flow.

This is just one example of an industry or company you may not understand. There are plenty of others, particularly those that involve a high degree of research. But there may also be very practical industries that involve complicated business models.

If you’re having difficulty grasping exactly what it is they’re doing, or how they make money, those stocks are best avoided.

3. Don’t Overload in Two or Three Sectors

This is virtually a disclaimer on the previous recommendation. Yes, you want to invest in industries that you understand. But at the same time, be sure your portfolio isn’t overloaded with stocks in a very small number of industries.

For example, if you work in IT, you may be tempted to overload your portfolio with tech stocks. After all, that’s your business, and what you understand. But any industry, no matter how well you know it, is subject to the ups and downs of the market. Just because technology is flying high today, doesn’t mean it will forever. (Remember the dot-com bubble?)

If you plan to hold say, 10 different stocks, make sure they’re diversified across six or seven different industries. The worst thing you could do is have half or more in a single industry. While it might serve you well when that industry is in an upswing, the backlash can be financially punishing when that sector turns down.

Realize that for a host of reasons we cannot predict, a specific industry can go into a bear market, even while the general market is flourishing.

It’s all about diversification, and that matters whether you’re in funds or individual stocks.

4. Buy Companies with a Solid Track Record

The ultimate stock market fantasy is buying “penny stock” of an obscure, upstart company, then watching its stock price soar past $100 in just a few months.

But fantasy is all that is. Sure, it happens in real life. But it’s only recognized in hindsight, after the stock price has taken off. Rest assured that for every such success story, there are 1,000 would-be fantasies that never got out of the starting gate.

For that reason, go with companies that have a proven track record. Obviously, this will move you out of the realm of new companies. But the “first rule” of making money in the stock market is not to lose any. Any company that’s relatively new and unproven, is more likely to result in a negative outcome.

To be an established company, the business should be around for several years–the more the better. Even more important, they should have a steady track record of increasing both revenues and profits on a consistent basis. For example, you might look for a company whose revenues and profits have grown in eight of the last 10 years.

A company like that puts time on your side, because it’s showing a steady growth pattern. Other investors see that too, as well as fund managers. Chances are, they’re either already holding that stock, or plan to buy it in the near future. All of that bodes well for the long-term prospects of that company.

5. Dividends DO Matter

Dividends represent the return of a portion of a company’s profits to investors. They provide an immediate return on investment, so the investor is not entirely reliant on capital gains. They’re particularly attractive to income investors, and do provide some measure of protection in market downturns.

As well, a company that pays dividends to their investors on a consistent basis is a healthy company. They’re able to continue operations, and even expand, while returning some of the profits to their investors.

Kiplinger’s puts out an annual list of dividend aristocrats that are well worth considering. Dividend aristocrats are described as “companies in the S&P 500 that have increased their payouts every year for at least 25 consecutive years.”

They’re also referred to as “dividend growth stocks,” which might be the optimal combination. You’ll undoubtedly notice that many of the companies on that list are well-known, and meet other criteria in this article.

Warning: There are No Guarantees

If there’s a strategy that guarantees picking only winning stocks, it has yet to be discovered. With that in mind, understand that your best strategies can still produce losses. Investing requires a large measure of accepting reality, and that’s that both markets and stocks rise and fall.

The best any of us can do is to create guidelines that will govern what stocks we’ll purchase. That will only improve the chances of picking winning stocks, but it will still fall well short of avoiding losses.

If you decide choosing your own stocks isn’t for you, consider using a robo-advisor to do it for you. Read our Betterment robo-advisor review to find out if this might be the better avenue for you.

Topics: Investing

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Starwood Preferred Guest American Express Luxury Credit Card Review

If hotels feel like your second home, this is a credit card you might want to keep in your wallet beginning this year. We’ll list the benefits of the card for frequent travelers and help you decide if this is a card for you. Here’s our review of the Starwood Preferred Guest American Express Luxury Credit Card, coming August 1, 2018.

Earlier this year, American Express and Marriott International, Inc. announced the roll out of a new value rich Starwood Preferred Guest American Express Luxury Credit Card. The card will come out in August, 2018, under Marriott International’s newly unified loyalty programs. The new program will offer one set of benefits to all members, and enable them to earn points at almost 6,500 hotels in 127 countries, across 29 Marriott and Starwood hotel brands.

What’s more, as of August 1, 2018, Starpoint balances will convert the points within Marriott international’s loyalty program at a ratio of one Starpoint to three Marriott points (1:3). For example, if you have 1,000 Starpoints, they will convert to 3,000 Marriott rewards points.

Starwood Preferred Guest American Express Luxury Credit Card Details

Starwood Preferred Guest American Express Luxury Credit Card will offer the following features and benefits:

• Earn 6X points at participating Marriott Rewards and Starwood Preferred Guest (SPG) Hotels, as well as purchases made at retail establishments or online stores owned by Starwood or Marriott
• Earn 3X points at US restaurants and on flights directly booked with airlines
• Earn 2X points on other eligible purchases
• Up to $300 in statement credits each card renewal year for purchases at participating Marriott rewards and SPG hotels
• Annual Night Award every year after your card account anniversary, for redemption levels at participating hotels for under 50,000 points
• Automatic Gold Elite Status and the ability to earn Platinum Elite Status after spending $75,000 on the card in a calendar year

Other benefits include:

• $100 Global Entry or $85 TSA Precheck fee
• Priority Pass Select membership to allow cardmembers to enroll and access more than 1,000 airport lounges around the world with Priority Pass network
• Complimentary Boingo Wi-Fi
• No foreign transaction fees

15 Elite Night Credits

Card accounts opened before December 31, 2018 will be eligible for a maximum 15 Elite Night credits. The credits will be added to Marriott loyalty program accounts on or before March 1. You’ll receive a maximum of 15 Elite Night credits per calendar year, even if you participate in more than one Marriott Rewards or SPG program.

For cards opened after January 1, 2019, a maximum of 15 Elite Night credits will be credited to one of your Marriott Loyalty program accounts within 60 days of opening an account. On or before March 1 of each subsequent calendar year, an additional 15 Elite Night credits will be credited to your account.

The Free Night Award

The Free Night Award can be redeemed for a one night stay, inclusive of room rate and applicable taxes. Free Night Awards are redeemable at participating Starwood and Marriott rewards hotels with a redemption level of under 50,000 points. The award will be available beginning on August 1, 2018.

The Free Night Award will appear in your loyalty member account within 8 to 12 weeks after the anniversary of your account in the form of an e-certificate. The certificate cannot be transferred, re-credited for points, or extended beyond the expiration date.

“Eligible Purchases”

Eligible purchases do not include fees, interest charges, balance transfers, cash advances, cash-like transactions, gambling transactions, or the use of checks to access funds on your credit line.

Platinum Elite Status Upgrade

The upgrade is available only to basic cardmembers. Eligible purchases made by additional cardmembers will contribute to the purchase requirement of $75,000. The upgrade is based on the calendar year, regardless of when your account was opened, and will take place within 12 to 16 weeks from the time your total purchases reach $75,000. The upgrade will then be available for the balance of the calendar year in which it occurs.

Platinum Elite Status Upgrade will automatically expire at the end of the calendar year, unless you complete $75,000 in purchases in that year as well.

Starwood Preferred Guest American Express Luxury Credit Card Interest and Fees

Interest rates and fees on the Starwood Preferred Guest American Express Luxury are as follows:

Purchase/Balance Transfer interest rate: 17.24% to 26.24% APR; variable based on the Prime Rate; the rate applies for balance transfers within 60 days of account opening

Cash Advance interest rate: 26.74% APR, variable based on the Prime Rate

Penalty Rate: 29.99% APR

Balance Transfer fees: the greater of $5 or 3% of the balance transferred

Cash Advances fees: the greater of $5 or 3% of the amount of each transaction

Foreign transaction fees: none

Annual membership fee: $450, with an annual statement credit of up to $300 for purchases on the card at participating hotels worldwide

For Current Starwood Preferred Guest Consumer Credit Cards

If you’re a current Starwood Preferred Guest Consumer from American Express cardholder, the card will be refreshed, and include the following benefits:

• 6X points at participating SPG and Marriott Rewards hotels
• 2X points on other eligible purchases
• Annual Night Award each year after your card account anniversary, redeemable at participating properties at or under 35,000 points
• Automatic Silver Elite Status, with the ability to earn Gold Elite Status after spending $30,000 on the card in the calendar year (the requirement will rise to $35,000 for the calendar year beginning January 1, 2019)
• No foreign transaction fees
• Annual fee of $95

Until August 1, 2018, both SPG members and Marriott Rewards members will continue earning points within their own respective programs. You’ll need two loyalty member accounts, one for each program if you participate in both. However beginning on August 1, the two programs will combine. At that time, your SPG rewards points will convert to Marriott Rewards points on a 1:3 ratio.

If you are an SPG member, you will have an opportunity to upgrade to the Starwood Preferred Guest American Express Luxury on August 9.

Starwood Preferred Guest American Express Luxury Pros and Cons

Pros:

• The card offers very generous rewards points, particularly on spending at participating Marriott Rewards and SPG properties.
• The Starwood Preferred Guest American Express Luxury Credit Card is the perfect choice for frequent travelers, and naturally those who primarily stay at Marriott and Starwood properties.
• Annual Night Award and 15 Free Night credits are a welcome feature, given that most people participate in hotel rewards cards mainly to get free nights.

Cons:

• The annual fee of $450 is high but it’s partially offset by the annual $300 statement credit. By contrast, Chase Slate has no annual fee.
• The Starwood Preferred Guest American Express Luxury Credit Card is for travelers who make extensive use of hotel properties by Marriott, Ritz-Carlton, and Starwood. It will not be suitable for the more casual credit card user. For example, if you’re looking for a 0% interest balance transfer, Discover it offers it for 18 months.
• Rewards points are excellent for those who want to accumulate them toward hotel stays within the Marriott and Starwood chains. But they will not provide cash back. A better option for consumers who want a cash back credit card is Chase Freedom which pays 5% cash back on select purchases, and 1% on all other purchases.

Should You Sign Up for Starwood Preferred Guest American Express Luxury

The Starwood Preferred Guest American Express Luxury Credit Card is for frequent travelers looking for free or reduced hotel nights. For this purpose, the card will definitely fit the bill. It offers very generous rewards points for in-chain hotel stays, as well as automatic free nights.

This will not be the card of choice for those who are looking for other credit card benefits including 0% balance transfers, 0% purchase offers, no annual fee, or cash back rewards (rather than points).

But the credit card world has moved toward specialization. There’s a card that does each of those benefits well, but none that does them all. Among travel related credit cards, Starwood Preferred Guest American Express Luxury Credit Card will be one of the best. It will offer generous rewards at Marriott and Starwood properties. In fact, since you’ll be earning points for US restaurants and airline flights, as well as other eligible purchases, nearly all your activity on the card will be purchasing more free hotel nights.

It’s a card that will be working for you, every time you use it.

If you’d like more information, or if you’d like to sign up for the card, visit the Starwood Preferred Guest American Express Luxury credit card website.

Topics: Credit Cards

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{#TransparentTuesday} “Victims”

I recently found myself in the position of having a male tinder date tell me that women identifying themselves as victims (by focusing on gender inequality) doesn’t help anyone, and we should focus on what we can do instead of what we can’t.

It’s important to note that this guy was very kind, interesting, and well educated. He was willing to genuinely listen to me, but just didn’t understand why I encourage people to focus on sexism instead of trying to rise above it.

Plus he really seemed to believe there was no difference in treatment or privilege between the sexes.

This is one hazard of being single while doing what I do: when I talk about my work and mission, they frequently feel resistant and defensive, as if I’m blaming them or calling them out.

Luckily, I get that.

Fairly recently, if you told me that black people went to jail at way higher rates than white people, I woulda been like… weellllll maybe they shouldn’t do illegal stuff, and then they could stay out of jail like the rest of us? If you told me that white people have privileges black people don’t have, I would have felt defensive too. Are you trying to say my life has been easy?

But the more I’ve learned about the history of systemic racial oppression in the US, the more I’ve been able to understand a few simple facts.

• Fact #1: Racial injustice was invisible to me, because I was never directly affected by it.

• Fact #2: By being white, I am in the position of relative power, so it’s easy to dismiss the experiences of black and brown people as less valid.

• Fact #3: Neither of those first two facts means racial injustice isn’t a real thing that’s happening all around me. It just means it was invisible to me until I started paying attention, getting educated about it, and listening to and believing people of color when they talk about their experiences.

Despite being, IMO, a good person with good intentions, I came from a place of total ignorance with regard to race. I basically felt like hey, your problem is imaginary— but even if it was real, it seems like you just need to work harder and take personal responsibility for making it better for yourself.

Talking to men about feminism often feels like this.

Even the “good guys” don’t get it because the injustice is invisible to them, so it’s easy for them to invalidate our experiences and make suggestions that subtly blame the victim, like how women just need to think positively and rise above.

The work I do in the world (not so much with clients, but with my public writings and personal life mission) is often about making invisible problems visible; putting explicit and specific language to enigmatic and hard-to-explain issues, so that we may all acknowledge and discuss them.

This is why it’s especially frustrating to talk to men, when I say something like “this is oppression, and it happens,” and his response is “do you really think it’s helpful to encourage people to identify as victims?”

All I want is for him to acknowledge that the invisible problem is real, not challenge my way of handling said problem. Men will never be able to understand the experiences and challenges of being female though, and (this is important): it’s not their job to do so.

This is another lesson I learned from getting educated on race:

I will never understand the experiences or challenges of a person of color, and its not my job to do so.

My job as a white person is to get educated on the facts, listen and believe people of color when they speak about their experiences, and continue to do the work of making their invisible struggles visible to both myself and the other white people in my sphere of influence.

That’s all I want men to do: read books written on feminism, get educated on the differences in how each gender is treated and socialized, seek out and believe the stories women tell them about how it feels to be female, and then continue to put in the work to make the invisible struggles of women more visible to both themselves and the other men in their sphere of influence.

We can’t do shit about a problem until everyone agrees the problem is real, and that won’t happen until the problem is visible for people who don’t personally experience it. Which requires, sadly, a massive amount of collaborative labor.

As for the particular detail brought up by my date, I think it’s worth addressing here: is it helpful to “encourage people to identify as victims?”

First of all: sometimes yes, sometimes no.

It can sometimes be useful to identify why you’re struggling in a particular area (to offset shame by validating and normalizing your experience), so identifying the specific forms of oppression, marginalization, or trauma you’ve experienced can be a powerful step in a long process of healing. Plenty of other people would not benefit from identifying this way, and that’s something each person gets to examine and decide for themselves on an individual level.

Assuming we should never discuss the problem in an effort to keep from feeling disempowered (or, put another way “focusing on what we can do instead of what we can’t”) feels completely backwards to me, as if closing our eyes will make the monsters go away. Instead, it is often exactly by acknowledging the severity of the problem that we are able to step into our most powerful selves and overcome.

More importantly though, there is a huge difference between the personal and the political; between individual healing and systemic change.

Oppression is a pattern, not a personal experience. Each individual person gets to decide how they relate to their lot in life, but identifying systemic patterns of inequality or marginalization is about identifying statistical patterns that need to be changed.

Let me offer you this analogy to help clarify the point.

What if there was a pattern in which white people very rarely got punched in the face, while women and people of color statistically got punched in the face all the fucking time? Each person would individually have to decide how to handle the fact that they either do or don’t get punched in the face all the time, but as a society we would all have to acknowledge the injustice and try to make it stop, right?

Ok. Feminism and racism and other social justice issues are just like that. Many of us are going around saying “hey, some people get punched way more often than others, and we should talk about that.”

In response, people say: “Why are you so sensitive about being punched? Anyone can technically be punched in the face at any time so I’m in as much danger as you are! Plus maybe it’s your own fault you keep getting punched, and if you acted more like me, people wouldn’t want to punch you as much.”

I’m not “playing victim” or encouraging a victim mindset when I talk about gender inequality. I don’t feel like a victim despite the fact that I, like most women, have been the actual victim of many actual crimes (let me remind you that sexual harassment, sexual assault, and gender discrimination are crimes).

This shit matters.

Working to expose and acknowledge the invisible struggles of others has a massively healing effect on the world on an individual level, as well as laying the foundation for policy changes at a level that can significantly impact our social and political climate.

Which is why I do what I do publicly, will continue to do so, and sincerely hope you’re on board to do the same.

Cheers, to making the invisible visible.

<3
Jessi

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The Best Roadside Assistance Apps for Your Money

Flat tire? Car stalled? Out of gas? There’s an app for that. Not just one app – several. These are the best roadside assistance apps for your money.

We researched nearly a dozen different roadside assistance apps, analyzing the costs and the various services they provide. All do involve a cost–even the free apps. It’s just a matter of when you’ll pay for them–upfront as part of the package, or as the services are needed. We looked at basic roadside assistance plans, including towing, flat tire and battery replacement, roadside fuel fill and other services, in making this determination. Our final conclusion is that AAA is the best service overall, based on cost versus benefit.

Roadside assistance service packages cater to a variety of drivers. You really have to analyze the specific services you’re most interested in. The age of your car, as well as the frequency and distances that you drive are important considerations. The older the car, or the longer your trips, the more comprehensive the service package needs to be. We were guided in part by Consumer Reports Roadside assistance programs: Beware the gaps and several third-party reviews.

At-A-Glance

• Best “pay and forget”: AAA
• Best free service: Urgent.ly
• Best for security in an emergency: OnStar
• Best pure roadside assistance (and nothing else): Honk
• Best predictable costs: Blink
• Best with other services (traffic, navigation, cheap gas): Waze (with AAA a close second)

Our Selection Methodology

Our selection methodology was based on the following:

• Personal experience in the use of some of the apps
• Cost vs. services provided
• Ease of use of the app or service
• Third party reviews
• Authoritative analyses of roadside assistance programs in general
• Predictability of roadside assistance costs versus money saved on “as needed only” services

We also narrowed the list of free roadside assistance apps, since there are several available. Since cost is not a factor in these apps, we focused on those we determined to be the most efficient.

With the above methodology in mind, here is our list of the top six best roadside assistance apps for your money.

1 . AAA

Its name is almost synonymous with roadside assistance. AAA was our winner. When 49 million people are willing to pay an annual fee to belong to a roadside assistance service, they’ve voted with their wallets that AAA is worth the price.

And it’s easy to see why. AAA offers near-complete predictability of roadside assistance service costs. You pay a flat fee each year, based on one of three service-level plans, and you’re covered for all services included–towing, flat tire and battery replacement, empty fuel tank, lockout service and more. Under their Premier plan you can even get up to 200 miles on a single tow.

You pay your annual fee, then go about your business, worry-free of being stranded on a roadside somewhere miles from home.

AAA even offers member perks including travel insurance, mobile maps and directions, discounts on hotels, car rentals, attractions and restaurants. They also have life insurance, and various vacation packages available.

Three different member packages are available, one for every budget:

Classic

This is the basic package, and it’s available for just $57 per year. It offers free towing up to 5 miles, lockout service up to $50, emergency gas delivery, battery jump starts, flat tire change, and even bicycle coverage and identity theft monitoring.

Plus

For $105.50 per year, you get towing up to 100 miles (four tows), battery jump starts, flat tire change, emergency gas delivery, lockout service up to $100, and also bicycle coverage and identity theft monitoring.

Premier

This package is $136 per year. You get towing, up to 100 miles for four tows, and up to 200 miles for one tow. You also get battery jump starts, flat tire change, emergency gas delivery, and lockout service up to $150 each for both home and car. It also comes with bicycle coverage and identity theft monitoring. Plus, the identity theft package includes $10,000 in identity theft insurance.

2. Urgent.ly

In the runner-up spot, we really liked Urgent.ly. It got a lot of points for being what we considered the best free roadside assistance app available. You pay nothing for downloading the app, and pay only when services are needed. This is a perfect service if you have a late model car, or do very little driving.

The service has been around for 15 years, which means it’s withstood the test of time. It’s also available in all 50 states, 24 hours a day, and every day of the year.

Urgent.ly is like a ridesharing service for roadside assistance. When you get stranded, you enter your location and your assessment of the problem (flat, car won’t start, lock-out, etc.). Various service providers–and there are 55,000 of them across the country–respond to your call for help. You can then choose the provider based on cost and the time it will take to arrive on the scene. This gives you an incredible degree of control over the process.

Because of the competitive nature of the service providers, the app advertises a 50% reduction in response time. Once you select your service provider, you pay online by credit card.

But there’s one other component of the Urgent.ly package that we really liked, and that’s their Family View feature. This is an accident alert detection technology that allows the folks back home–like family members–to track the roadside assistance process from home. It’s an excellent tool for anyone who has young or new drivers in the family, or for someone driving on a long trip or in bad weather.

3. OnStar

Much like AAA, OnStar is a paid service, but one that offers more services than the others. However, it’s only available on GM vehicles, including Chevrolet, Buick, GMC and Cadillac.

Of particular interest is their Automatic Crash Response service. It uses built-in sensors that can automatically alert OnStar, and make first responders aware of the severity of both the crash and potential injuries.

Stolen Vehicle Assistance can pinpoint your vehicle’s location, and work with authorities to recover it. They also have Emergency Services, which provide a priority connection to specially certified and trained advisors who not only contact emergency services, but also offer medical assistance by phone.

OnStar offers three different plans, each with its own service level:

Safety & Security Plan

At $24.99 per month, or $249.90 per year, this plan provides Automatic Crash Response, Emergency Services, roadside assistance (flat tire, out of gas, or stranded), and Stolen Vehicle Assistance.

Safety & Security Plan + Remote Access

At $34.99 per month, or $349.90 per year, you get everything that comes with the Safety & Security Plan. But the plan also comes with Remote Key Fob (remotely unlock your doors using your mobile app), Family Link (to keep tabs on your vehicle, as well as set boundary limits and destination notifications), and On-Demand Diagnostics, where an advisor can run a report and pinpoint the issue.

Safety & Security + Unlimited Access

At $59.99 per month, this plan includes everything offered in the Safety & Security Plan + Remote Access, plus Connected Navigation and unlimited data for 4G LTE in-vehicle Wi-Fi hotspots.

4. Honk

Honk is an app that connects drivers to towing services and roadside assistance. There’s no fee to join Honk, it’s a free app. Unlike AAA, where you pay an annual fee, and get services as needed, Honk enables you to connect with available service providers in the event of an emergency.

Various services partner with Honk, and form a roadside assistance service that’s similar to Uber and Lyft. If you’re in need of service, you enter your location and situation on the app, and service providers bid for the job. They provide both the cost of the service and an estimated time of arrival.

You, as the user, select the winning bidder, and pay your fee for the service on the app.

The basic idea of Honk is to create competition for the user’s business. With several providers bidding on the job, the user can pick the least expensive service.

5. Blink Roadside

Blink Roadside, or just Blink, is a mobile based roadside assistance service, that enables the user to take advantage of participating service providers. The mobile app claims to be used by over 75 million drivers. The company reports the service is available in 99.4% of ZIP Codes.

The service includes towing, jump starts, spare tire installation, vehicle lockout service, fuel delivery (up to two gallons) and roadside winching.

There is no membership required, and no hidden fees. But they charge flat fees for various services. For example, you pay $49 for roadside services. The fee for towing is $79 per tow for the first 5 miles, then $5 per mile for each mile after. The site claims you can save up to 40% off local market rates, but you have to do a side-by-side comparison of rates in your area to know just how much you’ll save.

6. Waze

Waze is different from the other roadside assistance services on this list, because it’s primarily a community-based traffic and navigation app. In fact, it advertises itself as the world’s largest such app. Drivers participating in the network share real-time traffic and road information, enabling participants to avoid the worst traffic, and seek alternative routes.

Waze enables you to stay in contact with friends who also have the app. You can connect on Facebook and see others driving to your destination, or coordinate arrival times. The app may even navigate you to the cheapest gas station on your route, allowing you to save money on fuel.

For roadside assistance, Waze has added a Request Roadside help feature. If you get into a bind, you can send a roadside help report to a fellow Wazer or a service provider to provide assistance. When you enter a report, it will remain live on the map for 30 minutes.

 

Factors to Consider

Probably the biggest factor to consider is cost of the service. If you have a newer car, and don’t anticipate the need for roadside assistance to any great degree, you may be well served with a free service. After all, there’s no point paying for a service that you have little need for. In this case, you may want to check your auto insurance policy as some provide limited roadside assistance, which may be all you need. However, if you have an older vehicle, or if you tend to travel remotely on a frequent basis, a paid service may be the better choice.

Final Thoughts

Sooner or later, everyone gets into a situation where they need roadside assistance. It could be a flat tire, getting stuck in a ditch, a dead battery, or just a mystery stall out. Whatever the cause, a good roadside assistance app can get you through the moment.

Lastly, imagine the sense of security you’ll feel if you happen to be stranded in a remote area. Just knowing there’s someone to contact to dispatch help your way can provide incredible peace of mind.

Topics: tech

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Housing Slowdown and Wilting Consumers Dampened Q1 Canadian GDP Growth

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May 2018 Real Estate Board of Greater Vancouver Statistics Package with Charts & Graphs

Reduced demand is allowing housing supply to accumulate

Home buyer demand continues to decline across the Metro Vancouver* housing market.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 2,833 in May 2018, a 35.1 per cent decrease from the 4,364 sales recorded in May 2017, and a 9.8 per cent increase compared to April 2018 when 2,579 homes sold.

Last month’s sales were 19.3 per cent below the 10-year May sales average.

“With fewer homes selling today compared to recent years, the number of homes available for sale is rising,” Phil Moore, REBGV president said. “The selection of homes for sale in Metro Vancouver has risen to the highest levels we’ve seen in the last two years, yet supply is still below our long-term historical averages.”

There were 6,375 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in May 2018. This represents a 5.5 per cent increase compared to the 6,044 homes listed in May 2017 and a 9.5 per cent increase compared to April 2018 when 5,820 homes were listed.

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 11,292, a 38.2 per cent increase compared to May 2017 (8,168) and a 15 per cent increase compared to April 2018 (9,822).

The total number of listings available today is 17.2 per cent below the 10-year May average.

For all property types, the sales-to-active listings ratio for May 2018 is 25.1 per cent. By property type, the ratio is 14.7 per cent for detached homes, 30.8 per cent for townhomes, and 41.7 per cent for condominiums.

Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

“For home sellers to be successful in today’s market, it’s important to price your property competitively given the shifting dynamics we’re experiencing,” Moore said. “It’s also important to work with your local Realtor to better understand these changing conditions.”

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,094,000. This is an 11.5 per cent increase over May 2017 and a 0.2 per cent increase compared to April 2018.

Sales of detached properties in May 2018 reached 926, a 40.2 per cent decrease from the 1,548 detached sales recorded in May 2017. The benchmark price for detached properties is $1,608,000. This is a 2.4 per cent increase from May 2017 and a 0.1 per cent increase compared to April 2018.

Sales of apartment properties reached 1,431 in May 2018, a 29.3 per cent decrease from the 2,025 sales in May 2017. The benchmark price of an apartment property is $701,700. This is a 20.2 per cent increase from May 2017 and a 0.1 per cent increase compared to April 2018.

Attached property sales in May 2018 totalled 476, a 39.8 per cent decrease from the 791 sales in May 2017. The benchmark price of an attached unit is $859,500. This represents a 16 per cent increase from May 2017 and a 0.6 per cent increase compared to April 2018.

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Money Advice for Newlyweds

What’s the secret to a happy marriage? We all know that stress can cause a real strain on a relationship, especially financial stress. So it’s important to learn how to minimize that stress. Here’s our money advice for newlyweds.

For richer or for poorer… that’s what you agreed to when you spoke your vows in front of friends and family. But while it can be easy to promise to love and to cherish no matter what situations arise, the reality is that money is often a source of contention for newlyweds.

In fact, money is the most common reason for arguments in the first three years of marriage, according to one study. It easily beats out religion, fights about kids, and even how many hours one spouse spent in front of the television. So, what can newly-married couples do to prevent money from impacting their relationship?

Here are five financial vows that all newlyweds should make. These will not only set the foundation for financial success, but they’ll also help keep the peace over the years.

I Vow to Be Honest About Money… Always

The easiest way to break your partner’s trust and ensure that money is a constant source of contention is to lie about it. Whether you’re fibbing about how much those new shoes cost or hiding a secret savings account, the result is the same. And it’s not good.

According to a recent study, 31% of respondents said that financial infidelity–the act of hiding credit cards, debt, or savings–was worse than physical infidelity! While it can feel like no big deal to tuck money aside or keep an account to yourself, this deceit has the potential to do some serious damage.

Never lie to your spouse about money. Even if it’s uncomfortable to admit that you blew the budget or need to rein in your spending. It’s better than the alternative: betraying your loved one’s trust. And failing to be honest about your entire financial situation prevents you and your spouse from setting accurate, realistic money goals.

I Vow to Have SMART Goals

There are few financial success stories that didn’t first start with good goals. Whether your plans involve saving more, spending less, earning more, or better managing what you have, it’s important to determine what you want to achieve.

By setting SMART financial goals–Specific, Measurable, Actionable, Results-driven, and Time-bound–you will accomplish a few important things.

First, you’ll ensure that the goals you set are realistic and able to be achieved in the first place. “I want to be rich soon!” isn’t a goal worth setting–what is “rich”, when is “soon”, and how will you know when you get there? Saying that you want to be debt-free and have $XX in a retirement account by the time you’re 50, however? Now that is a goal you can measure, has a time-constraint, and is specific.

Second, you will be able to ensure that both you and your spouse are on the same page as far as your financial future. It gives you the opportunity to talk through differences in plans and ideals, determine how you’ll reach your goals and what changes you need to make to get there, and you can keep one another accountable.

I Vow to Make Our Future a Priority

Starting a new life together is fun and exciting. You might think about buying your first home, planning exciting adventures, or starting a family. Unfortunately, all of those things cost money.

When you’re a newlywed, it’s important to think about the future, and that includes thinking about how your choices now will impact your finances down the road. If you spend more than you can afford (or more than you truly need) today on a big home, fancy car, expensive trips, or even just flashy purchases, you’re affecting your future… and your new spouse’s future, too.

It’s not nearly as fun to live modestly, especially when you are young and don’t have kids to think about yet. The money you could start putting into retirement today would lay a wonderful foundation for a long, prosperous future with your loved one.

I Vow to Plan for the Worst

We can’t control what the future holds. Whether we will encounter tough times, emergency situations, illness, or even death is uncertain. What is certain, though, is that we can prepare our finances so that our loved ones are always protected… even in the worst situations.

This begins with establishing an emergency fund. Aim to set aside at least 6 months’ worth of expenses in a savings account, which can be utilized if either of you ever loses a job, gets sick, etc. Building up that big of a cushion will take time, so start off with $1,000 in a high-yield savings account, and add to the fund each month.

You should also consider buying a life insurance policy, both for you and your spouse. This is especially important if you get a mortgage, have children, or if either of you depend on the other financially. Even if you or your spouse would do just fine financially if something happened to the other, a life insurance policy could cover final expenses and maybe even make life a bit more comfortable for the one left behind.

Creating a will and a financial binder are just as important. This way, your loved ones won’t be forced to scramble to find accounts, align finances, or wonder about your wishes.

No one likes to think about the worst happening. Failing to at least plan for it, though, is unfair to those you love.

I Vow to Make Us Just as Important

You already know that maintaining a healthy, happy marriage is hard work. Nothing good in life comes easy, and a lasting union certainly isn’t the exception.

As important as it is to iron out the financial logistics, it’s just as (if not more) important to make your new relationship a priority. This will not only spare you many of the money-related fights that could occur, but could also potentially save you a ton of money in the end.

Half of it, to be exact.

By being open and honest with your significant other, you will avoid the feelings of betrayal that come with financial infidelity. By spending wisely and planning for the future (even worst-case scenarios), you show your spouse that they, and your future together, are your first priority.

Make sure to put your relationship and your connection with your spouse above the daily grind if you truly want to save yourself some heartache–financial and otherwise. Couples that make time for one another, even if that means free activities like a walk through the park or eating dinner (sans cell phones) on the back deck, often find success in their relationship as a whole.

The more respect you have for your spouse and your relationship, the more you’ll make it (and its future) a priority. Plus, by putting daily emphasis on maintaining a healthy relationship, you can hopefully avoid one of the biggest financial impacts of all: a divorce.

Marriage is an exciting adventure, filled with challenges and achievements along the way, and the joining of finances along with your lives brings with it unique challenges. By making these five money vows from the very beginning, you can hopefully avoid many of the financial problems that plague couples today.

What’s your biggest piece of advice for a newlywed couple?

Topics: Personal Finance

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