Jason Butler, Author at Dinks Finance

About Jason Butler

Jason Butler is an Atlanta native, as well as businessman, blogger and teacher. Not only is Jason a prolific flipper, marketer, writer and side hustler his number of years in higher education and student support have given him expert knowledge in understanding the economics of the student loan industry.

Website

Older posts

Newer posts

5 Dumb Things to Do With Your Tax Refund

Posted on March 9, 2016 - 6:30 am by Jason Butler 4

tax refund tips, tax refund advice, things to do with your tax refund

Good morning everyone. A couple of weeks ago I wrote a post about 4 things you can do with your tax refund. That article was received pretty well. Today I want to discuss 5 dumb things to do with your tax refund.

Gambling

The first dumb thing to do with your tax refund is to gamble it all away. In my opinion, there is nothing wrong with gambling just a little bit. I’ve been to Las Vegas several times. I also buy scratch-off tickets every once in a while. The problem starts when people decide to spend all of their refund at a craps table or slot machines. The odds of winning are always against you. There are better ways to spend that money than gambling.

Buying too much stuff

The second dumb thing to do with your tax refund is to blow it all on shoes and clothes. I’ve seen it with my own eyes how people can splurge their refund on multiple pairs of Air Jordan shoes and Ralph Lauren clothes. There isn’t anything wrong with buying a couple of items here and there, but it’s just not smart to spend all of your refund on clothes and shoes. Everyone wants to look nice from time to time, but you don’t have to go broke to do it.

Buy a new car

The next thing on the list is buying a new car. Depending on your financial situation beforehand, it is probably not the smartest decision purchase a brand new car. The first reason is that cars depreciate. Another reason that buying a new car with your refund isn’t smart is because you may not make enough money to keep up with your payments. If your refund was only a down payment, you have to ensure that you can afford the monthly payments. If not, your car will be repossessed. Finally, you may not even have enough money to keep the maintenance up. You would have essentially wasted your refund and probably have to sell your car to get something that you can actually afford.

Club VIP

The fourth dumb thing to do with your refund is to buy a VIP table in a nightclub. The tables and bottle service can range anywhere from $500 to over $10,000 a night. Can you imagine spending your refund on a table for just a few hours? I can’t either. I wouldn’t get anything but a possible hangover out of that.

Not saving some of it

The final item on the list is not saving some of the refund. This should have been the first thing on my list. If you get a refund, it should be a no brainer to save a little bit of it. Unfortunately, there are a lot of people that live for the moment and keep nothing. If you receive a refund, you should save a little bit just in case an emergency happens.

To summarize the 5 dumb things to do with your tax refund is to spend it all gambling, buying too much stuff, buying a new car, buying VIP in the club, and not saving some of it.

Are there any other dumb things you can do with your tax refund?

My Geico Review

Posted on March 7, 2016 - 6:30 am by Jason Butler

insurance review, insurance, geico review

Hello, Dinks. A few weeks ago I discussed 5 car insurance companies that you should consider. I want to discuss one of them in depth today. I’ve been a customer with Geico for several years now. In this post, I want to share with y’all my thoughts about their company.

I’ve been a customer of Geico’s since 2007. Their pricing has been outstanding over the years. In the beginning, my 6-month premium was about $460. I made monthly payments of about $77. That amount wasn’t too bad for a college student with only a cell phone and a small car note being the only other bills that I had to pay. Geico has had small price increases over the years, but to me, they are still worth it.

My first car was a Chevy Malibu. “Kitt” as I like to call it was a great car until it started having problems. I’m not exactly sure what was going on, but in 2012 within a four-week stretch, I had two flat tires. I could have changed the tires myself, but since I didn’t have a jack Geico’s emergency road service came to the rescue. Both times they changed the tires without any problems.

The Malibu also started having engine problems. There were times when the car would overheat and just shut down on me. Most times I would wait about 10 minutes then it would come back on. There were a couple of times where it didn’t though. I was able to get the car towed to my house or nearest mechanic for no charge. You could get your car towed for up to 15 miles for free if you signed up for Geico’s emergency road service.

In 2014, I had a wreck. Geico’s claim specialist came to my home to look at the car a couple of days later. The specialist was very knowledgeable about accident situations. He told me that my car was totaled. He then gave me several options on what I could do next. I was able to file a claim because my accident was weather related. He made sure that I received my claims check within a week so that I could get another car. During the week that I didn’t have a car Geico was able to provide me with a rental.

Geico has several discounts. Some of the ones that I take advantage of are the 5-year good driver and the anti-lock brakes discounts. They have allowed me to save a decent amount of money over the years. Geico also enables you to you to save money if you have a multi-policy with them. I have my renters insurance partnered through them as well. That helps keep that premium down.

I thoroughly enjoy Geico’s auto insurance. They have helped me several times over the years. Their employees know their stuff. The customer service has always been great. It doesn’t matter if you call, e-mail or tweet them, someone will always reply back to you promptly. I am very satisfied with Geico.

Do you have Geico auto insurance or do you have another provider? If you do have Geico, how would you rate it?

Credit Card Mistakes

Posted on March 4, 2016 - 6:30 am by Jason Butler 7

Hello, Dinks. Do you have a credit card? Do you use it often? I currently have two. I’m not using credit again until I’ve paid off my debt. When I do start back using it, I don’t plan on getting back in debt or making any mistakes. Today I want to go over a few mistakes that people can make with their credit cards. Make sure you don’t make any of these errors.

Use it for everything

In my opinion, you shouldn’t use your credit card for everything, you should only use it for certain purchases. The only way I would suggest using your credit card to pay for everything unless you have the money to pay the credit card off every month. A lot of people can’t afford to do it. If I were you, I’d only use my credit card to pay for small bills or purchases.

Not paying it off monthly

The next credit card mistake that people make is that they don’t pay it off each month. If you don’t pay it off monthly, you will be charged interest. Depending on how your credit is you may have a very high APR. A couple of years ago I was paying nearly $80 each month in interest on one of my credit cards. That’s one of the reasons why I said don’t use your credit card for every purchase. You may not be able to pay it off each month. I know I wasn’t able to. By paying your credit card off monthly, you will never see an $80 interest charge.

Using your limit

The next credit card mistake that people make is that they use their full credit limit. That’s a huge no-no. If you’re trying to have a good credit score, you shouldn’t max out your cards each month. You should only use 30% of your credit. Credit card usage also counts for 30% of your FICO score which is a lot.

Using your credit card over unsecured internet networks

Another mistake that people do is use their credit cards over unsecured internet networks. If the web network is not secure, you may want to think twice about using your credit card online at the time. Hackers can get your information and mess things up for you if you use an unsecured network. Once they get your credit card info, they can go on a shopping spree. Unfortunately, I have had this happen to me. I was able to get the money put back in my account, but it was a scary situation.

Not having a card with rewards

If you are going to have a credit card, you might as well have one that has some good rewards. I read about people getting free flights all the time because of their credit card rewards. When I start back using credit cards, I plan on getting one of those types of cards. Airline flights are not the only type of reward cards out there. There are also credit cards that allow you to get cash back and fuel rewards.

Using it more when you have a credit increase

The next mistake that some people make is that they start using their card more when they get a credit increase. Don’t fall into that trap. If you’re not careful, you can get into a lot of debt that way. I will never forget when my credit limit increased from $3000 to $4000. You would have thought I won the lottery. I used some of that “new credit” on some clothes and a flight. Man, was I stupid. Don’t do what I did and use your credit card because you can. Remember, you have to pay that money back.

Don’t read the fine print

The last mistake that some people make is that they don’t read the fine print. Some of the things that you must pay attention to are the amounts that you will be charged for cash advances and balance transfers. You also should know the APR before you make your first purchase.

Have you ever made any of these credit card mistakes?

6 Reasons You Might Need A Part-Time Job

Posted on March 2, 2016 - 6:30 am by Jason Butler

part-time job, side hustle, extra income

Good morning Dinks. Depending on what your major was in college, the job market could be great for you. You could apply for several good paying jobs and have a great chance of getting hired at one of them. For others, their job market could be oversaturated. They may have to take a job that’s not in their field. Once they are in that job they may realize that they need a part-time job. Below I will be going over 6 reasons you might need a part time job.

Not making enough

The 1st reason that you might need a part-time job is because you might not make enough money at your full-time job. People can live on different amounts of money depending on their lifestyles, but if you have more month left than you have cash you have a problem. A part-time job will help you out in this situation.

Tough time paying bills

The second reason that you might need a part-time job is because you have a tough time paying your bills. You don’t want to get behind on your payments because that can affect your credit score. Having a part time job will allow you to make some more money that can be applied to those bills. I’ve worked two part-time jobs in the past to help pay my bills. It’s not that bad.

No savings

The third reason to work a part-time job is to help you start a savings account. Everybody needs to have some type of savings. If you’re not able to save much money from your full-time gig then a part-time job should be an option for you.

Too much debt

The next reason that you might need a part-time job is to help you pay off your debt. If you have thousands of dollar’s worth of student loan debt that you are struggling with, a part-time job can you give you a little relief. You will be able to add that money to your budget and start attacking that debt.

Need spending money

The fifth reason that you might need a part-time job is because you need spending money. If you only make enough money to pay bills and eat that’s not good. You have to change your mindset and realize that check to check isn’t living. Until you are able to find better full-time work find a part-time gig.

Lessens stress

The final reason that you might need to work a part-time job is because it lessens stress. When you have extra money coming in you tend to worry about certain things less. I used to stress about money quite a bit a few years ago. I would get tension headaches from time to time because I was always wondering if I had enough of it. During that time, I started working a part-time job a few days of the week. I stopped worrying as much because I had extra cash coming in. The headaches also disappeared.

To some getting a part-time job doesn’t sound glamorous. It’s not supposed to be. It’s there to help you out until you get a better full-time gig or until you pay off your debt. The main thing that you should remember is that it’s only temporary.

Are there any other reasons you might need to get a part-time job?

5 Things I Would Tell Myself About Money At 18

Posted on February 29, 2016 - 6:30 am by Jason Butler 1

For me, being 18 years old wasn’t that long ago. Well then again maybe it was. I’m currently 32. Fourteen years is a long time. I can remember graduating from high school and moving away to go to school at 18 like it was yesterday. For many of us, 18 is the beginning of adulthood. We start to make adult decisions. I’m sure if you’re like me you made some bad ones. Some of the bad decisions probably had to do with money. In today’s post, I will be going over 5 things that I would tell myself about money at age 18.

You have to work hard for it

At 18, I had already had a couple of summer jobs. I was also selling candy and mixtapes at school. That was easy money to me back then. I did those things so that I would have some extra spending money. Having that type of success as an 18-year-old had me thinking that money would always come this easy. That wasn’t the case. In my mid-twenties, I struggled with money because I didn’t work as hard as I should have. My bank account showed that. Eventually, I got my act together. I was able to get a full-time job, and I’ve been doing much better ever since.

Pay attention to the student loans that you accept

I wish I could go back and tell my 18-year-old self about student loans. I would make sure to stay away from certain lenders. I would also tell my younger self to make sure that you only accept what you need. Having a refund check is cool until you realize that you have to pay that money back.

Educate yourself

The third thing that I would tell my younger self is to learn about money. I would make sure to tell myself to read as many money books as possible and to become a money master. I didn’t learn much about money in school. My family didn’t teach me much either. I didn’t really start learning about it until I was in my late twenties. If I knew back then what I know now, I wouldn’t be in the financial situation that I am currently in.

Realize that you can have as much as you want

At 18, I only saw some of my family members with minimal amounts of money. They never seemed to get over a certain threshold. Seeing that makes you think that it’s not possible to have a large amount of money, so I only set small goals. I wish I could go back and tell my younger self that that was a lie. There should be no cap on your income. You can attain however much money that you want as long as you work for it. See, having more money is all about your mindset. I will be the 1st to admit that at 18 my mindset wasn’t the best.

Save

The final thing that I would tell my younger self to do is to save more money. At 18, I did save some, but not as much as I should have. I also withdrew money every time I went out to the mall or club (which was a lot back then). I would tell the younger me that the scene could wait. I could have saved a nice nest egg then had my fun.

How were you with money at 18? What would you go back and tell yourself?

4 Things You Can Do With Your Tax Refund

Posted on February 26, 2016 - 6:30 am by Jason Butler 2

tax refund, using tax refund wisely, smart ways to use tax refund

If you’re one of the people that receive a tax refund you probably look forward to filing your returns at the beginning of the year. If you’re reading this post, I assume that you don’t waste your refund expensive clothes or other ridiculous stuff. Neither do I. In this post I have 4 things you can do with your tax refund. 3 of the uses can be considered “smart”. The last one can be considered fun. I will begin talking with the 3 smart uses first.

Pay off debt

The 1st thing you can do if you receive a tax refund is to pay off your debt. I know that most of the people that read the posts here on Dinks are not a big fan of debt. It can get really slow you down in life. Debt causes stress and leaves people in bad moods when they think about it. Using your tax refund to pay off debt will help alleviate some of that stress. In the past, I’ve used a couple of my refunds to pay off a credit card bill. The tax refund can be the thing that kick starts your debt repayment plan.

Invest

The second thing that you can do with your tax refund is to invest. The type of investments that you can do vary with the amount of your refund. Depending on that amount you might be able to purchase some stocks, buy some mutual funds or even help out a small business with a donation.

Save

The 3rd smart use for your tax refund is to save it. You have the opportunity to add the money to your emergency fund. If you don’t have one, then this is the perfect time to start one. You can also save your refund for something that you need such as a down payment for a house or a new car. The idea here is to at least save some of the refund.

You just read the 3 smart suggestions that I had for you to use for your tax return refund. Here comes the fun use for your tax refund. Traveling is the fun way to use your tax return refund. (Note: Some of the ways that I mentioned earlier can be fun as well. Some people including myself have fun paying off debt). I enjoy traveling a lot. It is one of my favorite hobbies. I’ve been actively traveling since I turned 19 years old. It allows me to get out of my comfort zone and grow. I enjoy visiting different cities and checking out their tourist locations. Using your tax refund for traveling can make it easier on your pockets. I’ve used my tax refund to help me go on a few trips before in the past.

To summarize the four things you can do with your tax return refund is to pay off debt, invest it, save it and use it to travel.

Do you get a tax refund back? If so, what do you do with it?

How to Keep Distractions to A Minimum!

Posted on February 24, 2016 - 6:30 am by Jason Butler

attention tips, attention advice, keeping distractions

Whether you’re working on a business plan or studying for your Master’s you want to be able to focus on those tasks without having many distractions. Unfortunately, distractions can derail your focus from time to time. It’s something that happens to all of us. Today, I have six things that you can do to help you keep distractions to a minimum.

Watch TV Less

The first thing that will help you keep distractions down to a minimum is to watch less TV. For some, that may be easier said than done, but if you try it you will see a huge difference. I used to watch too much TV when I was younger. A few years ago I stopped doing that. I noticed that I was able to focus more and get things done at a quicker pace.

Work early or late

Working early or late is the next thing that can help keep distractions to a minimum. Many people are able to get more work done in the morning before their spouse gets up. They may also be able to work late at night after they go to sleep.

Eat

The next thing that you need to do to keep your distractions to a minimum is to make sure you eat. You should never try to work or study on an empty stomach. Being hungry will distract you a lot. In the past, I’ve tried to work on things while I was hungry. I realized that it just doesn’t work. I was distracted by hunger pains. If you’re hungry you will also start thinking about what you want to eat which will further mess up your focus. Definitely, make sure you eat so that you don’t get distracted.

Use social media less

The fourth thing that you should do is to use social media less. I love social media. I am active on Twitter, Facebook, and Instagram. I’ve learned that they can be huge distractions if I let them be. We live in a society where likes, shares, and tagging people are the norm. You don’t have to be like the norm all the time, though. Taking the time to log out of those accounts every once in a while will help you out in the long run. There are even a few programs such as Cold Turkey that you can use to block them for a specific amount of time.

Work in a quiet area

The fifth thing that you can do to keep the distractions down is to work in a quiet area. Your den or home office can be two places to start. Most libraries also have rooms that you can work in as well.

Turn off your phone

The final way to keep distractions to a minimum is to turn off your cell phone or put it on silent mode. Our cell phones keep us connected to our e-mails and our social media accounts. I’m sure the average person probably receives at least one notification each hour. If you check your phone every time it goes off there is absolutely no way you can get anything accomplished. Turning your phone off or putting it on silent will definitely increase your productivity.

How do you keep distractions down?

Is it Worth it?

Posted on February 22, 2016 - 6:30 am by Jason Butler

extra pay, worth the extra cost, money tips

Greetings Dinks. As you continue to look for ways to save more money you may get to a point in life and wonder if certain things are worth paying for anymore. I think we all get to this stage in life sooner or later. In today’s post, I will go over a few things that some people may or may not think is worth it.

Cable

The 1st thing that many people wonder is it still worth having is cable television. In the past, having cable TV was a luxury. People subscribed to it with no problems because it was the only way to watch certain types of TV shows. In 2016, that isn’t the case anymore. There are many different options that some say are better than cable such as Netflix or Hulu. These options are also cheaper than cable.

Your high car note

The next thing to question is your high car note. Is paying all that money each month for something that is depreciating worth it? I know you love your car, but if you’re paying a ridiculous amount for a car note, you may need to change vehicles. I’ve read numerous stories over the years that discuss people that have gotten rid of their expensive cars. They went on to save so much money because of that. Almost all of them said that eliminating that car note was one of the best decisions that they have ever made.

The big house

The third thing that you should ask is if your big house is worth it. Since the majority of our readers are dual income with no kids, a large house might not be something that you have to worry about. If you do have a big house with a large mortgage you should ask yourself is the house worth it? How much space do you really need? Downsizing your home can bring you hundreds of dollars of savings each month.

Car insurance

The fourth thing that you should decide if it’s worth it is your car insurance. You should definitely have car insurance, but I want to make sure that you are paying the correct amount for it. Depending on your situation you may not need all the extra coverage options. Your best bet is to research several companies and then choose the best one for you. Here is a post that I wrote last week titled 5 insurance companies to consider.

Cell phone plan

The fifth thing that you should ask if it’s worth it is your cell phone plan. I’ve said this once, and I will say this again if you’re paying more than $100 per month for a single line you are doing it wrong. There are other options out there. The 1st thing that you should do is check with your provider. If they can’t do anything for you, I would check with a competitor. There is no reason you should be paying a ridiculous amount for phone coverage in 2016?

What are some other things that may or may not be worth it?

5 Car Insurance Companies to Consider

Posted on February 19, 2016 - 6:30 am by Jason Butler 6

car insurance choices, car insurance shopping, car insurance tips

One of the most exciting things to do when you purchase a car for the 1st time is to look for car insurance. I hope you understood the sarcasm in my previous statement. While it’s not particularly fun every driver should take the time to research and make sure that he or she chooses the best car insurance for them.

There are several types of coverages that you should have with your policy. Some of them such as liability are not optional while collision and rental are. Today, I want to briefly go over five car insurance companies that you should consider.

All State

All State is an insurance company that was founded in 1931. Their slogan is “you’re in good hands”. They offer a premium discount for their drivers. You can save up to 22% for driving 3 years without any accidents or violations. They also offer other discounts such as a multiple policy discount, a passive restraint discount, anti – lock brake discount and an anti-theft device discount.

USAA

The next insurance company on the list is USAA. USAA stands for the United Services Automobile Association. They are a Texas based company that was founded in 1922. Only certain people can qualify for the USAA. One requirement is that you have to be an active, retired or honorably separated officer or enlisted personnel of the US military. Another way you can become a member is if your parents have or had USAA auto or property insurance. They offer several discounts such as a safe driver, defensive driving, and a good student discount.

Liberty Mutual

Liberty Mutual is the third auto insurance company on the list. They were founded in 1912. They offer great benefits such as accident forgiveness, lifetime repair guarantee, 24-hour roadside assistance and a 12-month rate guarantee. The 12-month rate guarantee is interesting to me because a lot of insurance companies have 6-month policies. The rate can change during that time. With the 12-month rate plans at Liberty, that won’t happen.

State Farm

State Farm was founded in 1922. They have several options that you can get quotes for on their website. Like the other insurance companies state farm offers multiple discounts. A couple of the unique discounts that they offer are a drive safe and save program and a vehicle safety discount. When a customer signs up for the drive safe & save program they will initially receive a discount of 5%. Customers are eligible for the discount when they agree to share certain info and have an eligible vehicle. The vehicle safety discount applies to you if your vehicle was made in 1994 or later.

Geico

The final auto insurance company that I will go over today is Geico. Geico was founded in 1936. I can’t lie, I’m a little bias towards them. I’ve been a customer with them for over 8 years. Their rates have been excellent since I signed up with them. I’ve had to use their emergency road service a few times. They have always taken good care of me. They also offer discounts for federal employees, the military and members and employees for over 500 qualifying groups.

Who is your auto insurance provider?

Do You Really Need Renters Insurance?

Posted on February 15, 2016 - 6:30 am by Jason Butler 2

renter's insurance, importance of renter's insurance, benefits of renter's insurance

As an adult, you realize that you have to pay for more and more things over time. Once you decide to rent your first apartment or house you have to make a decision whether to get renters insurance or not. Before I get to that answer, I want to explain to you what exactly renters insurance is.

Renters insurance is an insurance policy that provides benefits very similar to homeowners insurance. Renters insurance protects the tenant as well as their property.

Every renter should have renters insurance. There are three things that renters insurance will cover. They are the loss of use, your personal property and your personal liability. Below, I will explain them.

Loss of use

A loss of use happens if you need to leave your home after an accident. An example of that would be if your roof caved in and your place needed repairs before you could stay there again, the loss of use will cover certain expenses.

Personal Property

Renters insurance covers personal property. That alone is an excellent reason to have it. It protects your property in case of theft, fire and water damage, vandalism and other things outside of your control.

Liability

Liability is the third thing that renters insurance covers. It will protect you if you are sued due to an accident that happened in or on your property. I know that sounds crazy, but it can occur. It’s always good to be protected.

Unfortunately, renters insurance doesn’t cover everything. One thing that it doesn’t cover is flooding. If you live in an area that gets flooded a lot, you may want to consider taking out a flood insurance policy.

Renters insurance also doesn’t cover you in earthquakes or mudslides. There are separate insurance policies for those things. I would definitely look into that if I lived near a fault line.

Top 3 reasons why you need to get it

Protects you from theft

If you’ve ever had your house or apartment broken into, you know that it’s not a good feeling. You feel helpless. You may never feel 100% safe again. At least, with renters insurance, you will be able to replace the items that were taken from you.

Covers the cost of damage

As stated earlier, life insurance will cover the cost of damage. Not only will the insurance pay for your repairs that you need, but it will also pay your hotel bill until you’re able to return home.

Covers the cost of your belongings in situations

If a fire or a storm damages your home renters, insurance will cover the cost of your items. That is one less thing to stress about.

As you can see everyone needs rental insurance. It is 100% worth it. If the unexpected happens, a lot of people may not be prepared for it. They might not have the money readily available to pay for repairs. Rental insurance is not expensive at all. My premium is less than $200 for the year. Rental insurance gives you a peace of mind.

Do you have life insurance? If not why don’t you have it?

Older posts

Newer posts

Author Archives: Jason Butler

About Jason Butler