Farnoosh Torabi's Blog, page 44

5 Travel Saving Secrets

As the winter season drags on, travel hopes are exceedingly high for the next big vacation. But, of course, that trip may need to be on a budget, so here are five tips to turn that next getaway into an affordable adventure. We tapped top travel guru Peter Greenberg, the travel editor for CBS News, for his secrets to saving the most on your next vacation. Read more here.

We want to hear from you. What are some of the clever ways you have saved on travel? Connect with me on Twitter @Farnoosh and use #finfit.

Your Guide to an Informational Interview

[image error]If you’re searching for a job – either at the beginning of your career or later – an informational interview can be a useful engagement.

No one really teaches you how to build your professional network, in school or on the job, but the ability to mix and mingle is especially important in a career. Studies have shown consistently that networking is the top means by which jobseekers find employment. In fact, a recent survey found that 41% of respondents found their jobs through professional networking. And while internet job boards and social networking might be more common, they’re less successful, accounting for just 29% of new jobs combined.

I recently attended a professional development panel discussion hosted by New York’s Center for Communication. The panel featured senior-level folks in the communications industry, discussing how they got their feet in the door and how they evaluate new hires.  All suggested that an informational interview can be a  technique to advance your career.

Based on what the executives had to say, here’s how to arrange an informational interview and shine throughout the process.

Wait, What’s an Informational Interview?

As the name suggests, an informational interview is a professional meeting between you and someone in the field with whom you’d like to work – or even at a company where you’d like a job. The purpose of the interview is to learn from the conversation without any expectation of a job offer at the end of the meeting. This isn’t the time to convince someone that you’re just what their company needs, but if they feel so persuaded, then so be it. Overall, the executives agree that the informational interview is a great way to meet people in the beginning of your career and also to engage members of your industry if you’re a mid-career professional.

Arranging the Meeting

An informational interview should be a no-pressure situation. There’s no job at stake and, because a company doesn’t have to be hiring for you to visit, you should aim high in selecting individuals to interview. LinkedIn proves to be a useful directory in identifying key figures within organizations. Find someone with your dream job or who’s a leading voice in your industry and reach out via email. If you can find a mutual contact to arrange the metting, even better. Keep messages brief and to the point. It’s likely you’ll be contacting a stranger so attempt to break through their junk mail with a eye-catching subject line. A suggestion: include their name and your ask in the subject. For example, “Farnoosh, Informational Interview?” An offer of coffee or lunch in the body of the email could sweeten the deal.

Asking the Right Questions

Good news: you won’t be on the hot seat. When someone agrees to meeting with you, they’re expressing some interest to share their time and insight. Make the best of it by asking all the questions that you’re too eager or nervous during job interviews to ask. You shine brightest by conveying genuine curiosity and a grasp of issues in your industry. According to a guide by the Bureau of Labor Statistics, an informational interview should last between 20 and 30 minutes. In that time, you can really learn a lot. Ask questions like, “What’s an average day like in your position,” “What are the major challenges of your job” and “Where do you see the industry going?” Remember, the goal is to gain insight but also establish a rapport. Don’t be shy about sharing a bit about your goals and root your questions in your professional interests. For a little help, there are sample interview questions available online through MBA.com, CareerBuilder and even the career services department at MIT

Sealing the Deal

At the end of the meeting,  express your gratitude for the willingness of this person to meet. It’s not every day people give a stranger time out  of their busy workday so follow up with a handwritten “thank you” note within two days of your appointment. Before leaving the meeting, however, see if you can get a little assist by asking if your interviewee might know someone else willing to meet with you. Finally,  stay in touch. Connect on LinkedIn and and send messages periodically to touch base. If the interview went well, you’ll hopefully stay in their mind and rise to the top of it when opportunities open up.

Photo Courtesy, Victor1558.

An Entrepreneur’s Toy Story

(Spoiler alert!)  Toy Story 3 ends on a bittersweet note, as Buzz Lightyear, Woody, and the rest of the gang watch their beloved Andy drive away to college, leaving his toys and childhood behind.  The idea posed by the movie – that toys are best left in the hands of a child – is one that toy enthusiast Gino Joukar flatly rejects.

By 2007, the 45-year-old collector was spending upwards of $30,000 a month on rare Japanese vinyl kaiju and so-called Western designer toys.  His dream of opening a museum to display his growing collection in San Francisco’s South Park neighborhood, however, was put on hold indefinitely when the economy took a nosedive.  A 10,000 square foot space he’d fallen in love with was out of reach.  “I could not raise the half-a-million dollars I needed to transform the space into a museum and gallery setting,” he says.

Instead, Joukar leased a tiny, $800-a-month office space just off Melrose Avenue on Seward Street in Los Angeles and began Toy Art Gallery (7571 Melrose Ave.) in earnest.  At 400 square feet, the space was a far cry from his original plan.  “It was a humble beginning,” he admits.  “We were in a recession market and I knew I didn’t want to take on too much of a burden.”

The  showroom was enough to service the private client base he built by selling on eBay, but the majority of his sales were generated online.   Toy Art Gallery spent its first couple of years in the red, buoyed by Joukar’s other business, DV Warehouse, a mail order company that specializes in refurbished Apple computers and parts.

A location move in 2009 to its current location in the trendy Melrose District between West Hollywood and Hollywood has proven to be a profitable turning point for the once-struggling business.  At 2,000 square feet, the new space is closer to Joukar’s original vision and has the capacity to host launch parties and events that help bring visibility to the store.    The location has also drastically improved foot traffic, and Joukar estimates that 100-200 people visit the story everyday, mostly first-timers.  Meanwhile, the online portion of the business continues to do well, selling out on every major new toy release, sometimes within minutes.

“What sets us apart is the relationships we have with the leading artists from the scene,” Joukar notes.  “A lot of these artists don’t just work with any gallery or any store.  Fortunately for us we were the first gallery that served as a platform for these artists who use toys and sculptures as their canvas.”

Toy Art Gallery does not just showcase and sell designer toys;  the company also has production capabilities in Japan and Joukar frequently takes on the role of agent, linking his growing network of artists with major corporate players and brands to re-imagine some of the world’s most popular characters.

Joukar’s toy story is far from over.  “We are opening our second location in Tokyo by next year,”  he says.  “We plan to become the leading toy shop for the urban kaiju and Western designer toys in Tokyo.”

One Dress, 5 Ways

Spring is about to be sprung. That means fashion shows, outdoor parties and, of course, the upcoming wedding season, encouraging us to stretch our wardrobe dollars to the max. But what if I told you that you could wear one single dress five different ways? Stylist and fashion maven Amy Salinger explains how to take full advantage of the versatility of one single dress. Read more here.

And we want to hear from you! How do you style your clothes for more looks? Share your tips with me on Twitter @Farnoosh, and use the #FinFit hashtag.

Secrets to Bidding Well on eBay

For millions of people, eBay is still a relevant and lucrative money-maker, and for collectors, it’s one of the very best places to score hard-to-find memorabilia, rare trinkets and the oddball used treasure.

Self-proclaimed eBay expert Ken Rockwell spent years buying and selling specialty photography gear over eBay, and as a result, knows a thing or two about maximizing his results. Rockwell has purchased literally hundreds of items off eBay, and claims he’s won over 97% of his bids — never once paying more than he wanted to.

So what’s his secret?  Here are some of Rockwell’s insider tips that winning on eBay a breeze. (Stay tuned for next week’s secrets for Sellers!)

Know the Platform

Experts agree that eBay is NOT the place to score an incredible deal (or if you have won one, you’re the exception and not the rule). As Rockwell puts it, “Everything sells on eBay for what it’s worth… [It’s] a great place to find weird, old, rare and collectible items.  It’s a horrible place to buy major new items, which can be bought for the same price from real stores without all the gambling.”

Because at the end of the day, eBay is a gamble. You’re buying used stuff from a stranger you’ll never talk to, at what is essentially a glorified online garage sale.  Except there are possibly hundreds of people jockeying for the same quirky end table.

Bid at the Last Second

Save yourself and everyone else from getting ‘auction fever’ – or, bidding back and forth over the course of a few days, driving the price up.  As Rockwell says, “Early bidding, the worst sin on eBay, jacks up prices for everyone.”

Instead, bid on an item you desire, but only at the very last second.  Bid the HIGHEST amount you’re willing to pay. At that point, you’ll probably win the auction, and when you do, you may have only paid a few dollars above the second highest bigger, regardless of your bid amount. In other words, if you enter $500 and the next highest bidder only enters $66, you’ll win and pay only one increment higher at $68!  This is the least understood principle on eBay and potentially the most valuable.  When you bid last, bidding high is a risk worth taking.

But, when you bid too early, all the other bidders will be alerted by text and email that they just got outbid– and now they have enough time to act on it.

Instead, take your time. Find what you like. Research the item any possible warning signs, and do a background check on your Seller. Now sit back, and wait for the auction.  Bid literally in the last few seconds, and bid what you think the item is worth (or, the maximum you’d ever pay for it in case you do end up at that price). Then you can skip a step and bid, buy and pay for your purchase all at the same time!

Ignore “Featured Items”

All “featured item” means is that the seller paid for the privilege of being listed on top.  More exposure means more bidding back and forth, which means the price inevitably creeps up over time. A better strategy is to purposefully find the buried items.

Find Hidden Posts

Purposely seek out the misspellings. Low traffic ads can lead you to some quality stuff that hasn’t been picked over yet. Purposefully seek out all known spellings and even common misspellings, odd phrasings, nomenclature and colloquialisms. For example don’t just look for “purse”; look for “hand bag”, but also “handbag”.

Buy Now

If you see a newly listed Buy-it-Now (less than an hour old) — this is where one of the only instances a good deal can be had.  As a rule, most Buy-it-Now listings are the seller making up some ridiculous dream price.  Any “Buy-it-Now” item that is truly a good price will be snatched up almost instantly, as the Pros know to seek out recently added listings specifically.

Sniff Out Fraud

It turns out a better predictor of quality, over a detailed description and even photos, is the Seller feedback rating. However note that the feedback ratings on eBay are exceptionally skewed: Rockwell says good rating is 99.8% and above, while bad one is 99.6% or lower – and he says don’t even think about buying from a Seller with lower than a 99.5% feedback. “When I have, I’ve often gotten junk,” says Rockwell.

What’s another way to tell if a posting is a little fishy?  The Seller probably won’t take PayPal. Rockwell warns: “People haven’t expected a personal check on eBay since the early 90’s… [if they do, then] the Sellers are weirdos.”

Photo Courtesy of: wikimedia.org/wiki/File:EBay_former_logo.svg

Healing a Broken PC

When your computer crashes, your first instinct might be to take it back to the retailer to be fixed. That might not be the best idea, as I’ve recently learned.

Like many Americans, my personal computer is integral to my lifestyle. It’s how I access information, entertain myself and communicate. As a writer, it’s perhaps even more significant as the main tool of my trade and a repository for past work. So what happens when this all-important device crashes? I found out when suddenly last week when, in the middle of writing a story, my MacBook conked out. It’s a problem that we all have at some point. According to reports, Apple – the manufacturer of my laptop – alone sees 50,000 customers a day at its “Genius Bar” repair centers worldwide.

Take it from me: the cost to repair your personal computer can be nearly as much as a brand new device. Here are a few ways to save.

 

Consider The Extended  Warranty

First thing’s first: opt for insurance (hopefully you’ve done this before your PC crashes.) The cost of an extended warranty seems excessive, especially if you use your device carefully but it can save you in the end. In my case, the cost to protect my MacBook though AppleCare would have been $350. Other plans range from $100 to $350 and extend the company’s standard 1-year warranty up to three years from your computer’s original purchase date. What you get for that is pretty impressive: full coverage for hardware, software and repair charges. At $350, that breaks down to a little over $100 per year for a little piece of mind.  It’s a little bit more than the $300 I spent to replace my laptop’s hard drive without the AppleCare the other day, but with it,  I’d have been covered for another year.

No Warranty? Shop Around

“The most common laptop repairs are having the hard drive or operating systems restored,” says Arthur Zilberman, president of LaptopMD in New York City. Zilberman’s company is one of many private repairers around the country that often offer less expensive repairs than retailers and manufacturers, if your machine’s warranty has expired. Instead of rushing to the Genius Bar at the first sign of trouble, Zilberman says I should have shopped around. “These guys aren’t really trained to fix your problem,” he says. “If it’s not an easy fix, it makes more sense in terms of business to sell you a new computer. And with such big companies, the range of services offered are very limited.”

On average, the cost to repair damage to your computer through a private shop is $50 to $100 less, depending on the problem, says Zilberman. My busted hard drive? An estimated $75 savings for the same repair that cost me $300.

Do Your Homework

Let’s face it, one of the main reasons we take broken devices back to retailers is for some reassurance that it will be handled properly by experts. And to be fair, the majority of consumers end up satisfied with native support service. But know this: While HP, Dell and Apple take up nearly 60% of the market share for laptop computers and constitue nearly 70% of repairs, all three manufacturers also train and certify independent repairers to fix their devices. When seeking repairs, make certain the servier is certified to fix your machine. The manufacturer’s website is usually a pretty good place to start, as most will have a list of authorized repair locations. Also, read the fine print on service agreements to be sure there are no hidden fees – for same-day service for example – and to be certain that the provider guarantees their work (ideally, you want a guarantee between 30 and 90 days.)

Photo Courtesy, CollegeDegrees360.

Top 6 Deceptive Bill Charges

Feel like you’re always investigating the case of the missing money at the end of each month? You may be among the one in four Americans who fell victim to deceptive or unwanted charges in the past year. Read more here.

Tell us about your experiences with grey charges. Connect with me on Twitter @Farnoosh and use the hashtag #finfit.

The Financial Skinny: Short Sales

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Short sales are on the rise - accounting for 22% of all home sales in 2012, according to a study by RealtyTrac. A timely term for this week’s financial skinny:

Short Sale: Defined

“Short sale” is a type of transaction in which a property is sold for less than the balance owed on its mortgage. It’s a strategy used by underwater homeowners who owe more than the property is worth. With cooperation from a homeowner’s lender, a short sale can be a great alternative to foreclosure.

Short Sales & Uncle Sam

Increased short sales, especially in the last quarter of 2012, could be a result of homeowners acting to take advantage of tax incentives that were set to expire at the end of the year. The Mortgage Forgiveness Debt Relief Act was set to lapse on New Year’s Eve. Instead, the benefit has been extended through 2013, allowing homeowners to exclude income from the remaining debt balance on their principal residence. In other words, the amount homeowners fall “short” on won’t be taxed – providing more incentive to unload underwater mortgages.

Who’s Eligible?

Most short sales are facilitated through the government’s Home Affordable Foreclosure Alternatives program, which is available for mortgages backed by Fannie Mae and Freddie Mac. To be eligible you must have obtained your mortgage on or before January 1, 2009, the mortgage must be valued at less than $729,750, you have to prove financial hardship and not have bought another property in the past 12 months. Other homeowners may be eligible for short sale pending negotiation with their lender.

Impact On Credit

Finally, before you put out that “for sale” sign, it’s important to weigh the impact a short sale could have on your credit score. According to FICO, the company that sets the standard in the credit scoring industry, short sales will have some negative impact on your credit score, as they’re “not paid as agreed” resolutions. And, despite what your realtor might say, short sales have the same effect on your score as a foreclosure. That means the hit will stay on your credit report for a maximum seven years and lower your score by 100-300 points depending on the health of your score prior to the sale.

Photo Courtesy: 401(k) 2012

Today Show: When to Toss It?

This morning on the Today Show, I reviewed 7 items you may need to toss from your kitchen right now.

Figuring out the freshness of certain items isn’t always obvious. Some items found in and around your kitchen can be carrying bacteria, which can lead to illness so it’s important to know what to toss and WHEN:

Latte or Milk in Coffee

I’m guilty of sort of nursing my latte in the mornings but actually after about an hour at room temperature you should TOSS your latte because it’s filled with so much milk. Bacteria begins to grow in as little as 10 minutes in room temperature, even faster if the top is off. It won’t taste sour but that doesn’t mean it’s still safe to drink.

Eggs

Eggs are actually still safe to consumer a couple weeks after the date stamped on the carton, but to make sure there’s a quick test. Fill a bowl with cold water and dunk the egg in the water. If it sinks to the bottom you’ve got a good egg.  IF it floats, it’s no good. And if it sinks but stands on its point, best to use that egg quickly. To keep your eggs fresh, place them in the coldest and darkest part of your fridge like the bottom shelf in the back where it’s not exposed to the temperature changing each time you open the door.

Spices

Before I started cooking I thought you could keep spices forever in the spice rack. Not so. Spices don’t spoil but they do lose their strength and flavor over time. Rule of thumb:

Ground Spices & Herbs: cinnamon, garlic powder, pepper can keep for 1 year.
Whole spice & Herbs: Good for about 2 years
Whole Roots: Discard after 3 years

Pizza & Leftovers

I am guilty of eating leftover pizza out of the box in college but that’s not safe.  Leftovers – especially if they contain meat – that have been sitting out for more than 2 hours you want to discard (Mayo Clinic).  Your best defense against bacteria growth is to refrigerate the food in tightly sealed containers where they’re safe for about 3-4 days.  Refrigeration slows bacterial growth. Then zap it in the microwave when ready to eat. If you don’t think you’ll eat the food in 3-4 days, but maybe in a week, then you should freeze.

Baby Food

Babies are most susceptible to foodborne illnesses, so a couple important rules to follow here: 

1)   If there’s uneaten food in the jar and it’s been sitting out at room temperature for more than 2 hours then TOSS just like those pizza leftovers.

2)   Previously opened baby food jars can be refrigerated with the cover sealed but only good for about 24 hours.

3)   Just a final tip about serving the baby food – According to the Food Safety Agency it’s safest to take the baby food from the jar to a clean bowl and serve from the bowl to avoid the transfer of bacteria from the baby’s mouth to the baby jar. Don’t feed straight from the baby jar.

Dish Sponge

A study found the kitchen dish sponge to be the most bacteria-friendly item in the home…more than your toilet seat, more than your dog’s water bowl. So best to toss and replace your dish sponges after 2 weeks. In between you can keep sponges relatively clean by soaking them in hot water and zapping them in the microwave on high for 2 minutes. That’s considered the best way to clean your sponges. The second best method is to place your sponge on your dishwasher’s top rack and run the washer on high heat as you wash the rest of your dishes.

Chipped Dishes

Cracked or chipped dishes and glasses should be discarded immediately. The sanitary seal has been broken and invites bacteria. Washing won’t help so it’s best to just toss.

 

 

A Cutting Edge Above the Rest

Fred Rogers found refuge from the cutthroat world of the commercial food industry in an unlikely place: the back of a truck filled with some of the sharpest knives in all of Los Angeles.

Though he made good money working with major players like Cisco and US Food Service, by the early 2000′s the former manufacturing rep had grown weary of the forced smiles and firm handshakes necessary to close his biggest deals. “I hated some of my clients,” he admits. “They were awful. And there was nothing I could do. I had no control. I was working for somebody else.”

Recognizing that he needed a change,  the budding knife aficionado used his manufacturing connections to score good deals on knife sharpening tools, equipment and inventory, all of which which he used to build his impressive mobile knife sharpening workshop.  By 2003, the year when Rogers officially separated from his dreaded day job, he had amassed a small, but loyal, following.

While his wife went back to work, Rogers took on the role of stay-at-home-dad, working to build his business on the days that his children were in preschool. It wasn’t easy.  In the early years, both Rogers and his wife had to work harder for what must have seemed like diminishing returns.  The cost of preschool also grew as the demands of the knife sharpening business made it necessary for the Rogers to send the kids to preschool full time.  But those early sacrifices have paid off well for the couple.

Today, Perfect Edge Knife Sharpening has earned a sterling reputation to go along with an A-List of commercial and retail customers.  Once a month, Rogers visits some  of LA’s most popular destinations, sharpening knives from the back of his truck for the likes of Jar, Chateau Marmont, Soho House, and last week’s profile, Koontz Hardware.   In 2009, Rogers was named Best Knife Sharpener in LA Magazine’s annual Best of issue.  

Rogers makes no apologies for prices that may be double and even triple what his competitors charge. Considering a good knife set from Williams-Sonoma can set you back $2,000 or more, paying $5-$25 per month to keep them good and sharp is a considerable investment that helps to ensure they’ll last a lifetime.

And Rogers doesn’t just sharpen or repair your forged, serrated, Japanese single bevel, carbon steel, laminated, or Damascus knives. He shows you how to use, handle and maintain them, as well. “My customers understand the value I bring to the table,” he says.

As for the future of his business, this blade runner sees a number of untapped revenue streams. “There are thousands of country clubs, restaurants, and hospitals between Los Angeles and Orange County,” Rogers points out. “There is a lot out there that I haven’t even touched.”