Things to know when selling your car:

1. Clean the car thoroughly. How would you feel buying a dirty car with junk inside it and without it being cleaned inside and out.

2. Set a price by checking the local newspaper, and Kelly Blue Book. I usually go a little higher to give myself some negotiating room.

3. Consider listing your car on a free site like Craiglist. You can get a free ad, you might as well take advantage of it. Local newspaper ads may be good for this also. Concentrate on Friday, Saturday, and Sunday. Most people shop on these days.

4. Show the car to your prospective buyer. The buyer may want to take it to their mechanic. Ride along with them to the mechanic. I wouldn’t let it out of your site.

5. Show the prospective buyer the documentation on the car explaining how well you have maintained it. Hopefully you have maintained it.

6. Get ready to negotiate. Decide in advance the lowest price you will take for the car. Play a little game with someone to see how you will respond to questions.

7. Finalize the sale. Don’t take a check. Go to the DMV or a title place and get the car in their name and the cash in your hand. Never release the car until you have been paid in full. My son got stuck by taking partial payment because it was his friend. I tried to dissuade him, but he was 18 and knew more than his dad at the time.

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Here is an interesting Article on someone becoming homeless by choice and overcoming adversity.

Excerpt from the article:

The effort, he says, was inspired after reading “Nickel and Dimed,” in which author Barbara Ehrenreich takes on a series of low-paying jobs. Unlike Ms. Ehrenreich, who chronicled the difficulty of advancing beyond the ranks of the working poor, Shepard found he was able to successfully climb out of his self-imposed poverty.

Excerpt from the Article:

Alone on a dark gritty street, Adam Shepard searched for a homeless shelter. He had a gym bag, $25, and little else. A former college athlete with a bachelor’s degree, Mr. Shepard had left a comfortable life with supportive parents in Raleigh, N.C. Now he was an outsider on the wrong side of the tracks in Charles­ton, S.C.

But Shepard’s descent into poverty in the summer of 2006 was no accident. Shortly after graduating from Merrimack College in North Andover, Mass., he intentionally left his parents’ home to test the vivacity of the American Dream. His goal: to have a furnished apartment, a car, and $2,500 in savings within a year.

To make his quest even more challenging, he decided not to use any of his previous contacts or mention his education.

During his first 70 days in Charleston, Shepard lived in a shelter and received food stamps. He also made new friends, finding work as a day laborer, which led to a steady job with a moving company.

See the Full Article here

Adam Shephard did have a credit care in his back pocket in case of emergencies which most if not all homeless people don’t have. This is a good example of what can be done to overcome adversity. What do you think?

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CNNMoney has some good Financial tips for couples:

1: Get your own credit history

2: Consider disability insurance

3: Combine the best 401(k) features

4: Streamline your savings

I think that getting your own credit history is a great idea. My wife just purchased a car and she used her credit to get the car which will in turn help her to increase her credit score by making the payments on time.

Disability insurance is a great idea especially if you have health problems. According to an industry group, the Life and Health Insurance Foundation for Education, about one in five Americans will become disabled for one year or more before the age of 65.

As far as combining the best of your 401 features this is a good idea. Make sure that the asset mix of all of your investments make the best sense for both of your investment styles and age group.

Not sure that combining your bank accounts is a good idea. If a divorce occurs assets are still community property in most states, but it makes it a real hassle if one person shuts down the accounts without your knowledge. This will cut down on paperwork and possibly fees, I am just not sure it is right for me.

Checkout the full article here.

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