Financial Excellence

15 Jun Myths vs. Truths – The Truth About Extended Warranties

- Exposing the false beliefs of the financial world Myth: Extended warranties and service contracts save you maintenance costs over time. Truth: Extended warranties and service contracts make the salesman a lot of money, and rarely pay off for you. They are designed to play with your emotions and your sense of security so the seller makes more money. Statistically, these pay off for the finance or insurance company. That's why they push them so hard. It's estimated that 85% of extended warranties don't pay off, meaning 85% of the time you bought the warranty but didn't need it. Need a little salt in the wound? Depending on the type of product you buy, the profit margins for the salesman often top 70%! In many cases, the salesman makes more commission on the extended warranty than he does on the product itself. So how do you survive without an extended warranty? If you follow
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09 Jun 011 Living In Financial Excellence – Things Americans are Living Without

[caption id="attachment_2482" align="alignleft" width="150"] Click here to subscribe or leave a review on iTunes[/caption] Episode 11: Things Americans are learning to live without, June 9, 2010. Lessons learned from the "Great Recession" as it's being called - what the economic downturn has taught people across America. Most specifically, what people are learning to live without now that the recession has given us all a wake up call. Show notes: - Matt references two articles on the show by author Rick Newman published on US entitled How to Gauge your Middle Class Status and 21 Things We're Learning to Live Without. - Financial Peace University is coming June 15th to Sheboygan. Visit under the Financial Peace tab for more details.
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