Mint Mobile Review

Mint Mobile Coverage

T-Mobile has strong network coverage in some parts of the country, but it doesn’t have a network that covers the country as well as AT&T or Verizon. With Mint Mobile, you’ll get the same coverage as T-Mobile. You can type in your zip code to see if Mint Mobile has coverage in your area.

Mint Mobile offers a free 7-day trial so you can try out the service and see if it works well for you. The 7-day trial offers 250MB of data, 250 texts, and 250 minutes of talk time. This is enough to test if Mint Mobile is a good fit for you.

Free calling to Canada and Mexico and free hotspots

Mint Mobile offers free calling to Canada and Mexico on all plans. T-Mobile also offers wifi calling and texting, which are great ways to stay connected when the mobile network coverage is poor.

Mint Mobile offers free hotspots. Hotspot usage is limited to a 5 GB cap with the unlimited plan.  On all other plans, hotspot usage will count against your data limit.

Cost

Mint Mobile doesn’t have a monthly plan. Mint Mobile offers three introductory plans that you can buy for three, six, or twelve months. Here’s a look at the current three-month offer.

• 4GB Plan: $45 for 3 months ($15/month)
• 10GB Plan: $60 for 3 months  ($20/month)
• 15GB Plan: $75 for three months ($25/month)
• Unlimited Plan (35GB): $90 for three months($30/month)

After your introductory period is over, you can sign up for 12 months to get the lowest rate. As you can see, Mint Mobile is considerably cheaper than other wireless providers.

Slower speeds when the network is congested

Like all MVNOs, your speed will be throttled if the network is congested. This can happen if you are in a crowded area such as a stadium or during peak hours. But most of the time, you will get the same speeds as post-paid T-Mobile customers.

Ryan Reynolds connection

You will notice that actor Ryan Reynolds appears in a lot of  Mint Mobile ads. He is not a paid actor promoting T-Mobile. He invested in the company in 2019 and is rumored to own about 25% of the company.

Customer service

Mint Mobile has excellent customer service through chat, phone, or email. But it doesn’t have any physical stores. I have never had to call customer service. Mint Mobile has an excellent app that allows you to monitor usage and make payments. You can contact customer service through the app, and Mint Mobile has helpful guides to help you set things up the first time you use it.

Disadvantages of going with Mint Mobile

• Mint Mobile doesn’t have a monthly plan. You have to buy multi-month plans, which may not work for everyone.
• Your service is deprioritized and you will see slower speeds when the network is congested.
• Customer service, while excellent, is limited to online and phone support. There are no physical stores you can walk into if you have a problem.
• Mint Mobile doesn’t offer discounts for multiple lines

Phone options

Mint Mobile has a wide variety of phones, and sometimes you can get a good deal if you buy a phone and a plan together. You can also bring your own phone to Mint Mobile, but make sure it’s compatible. You can find out if your phone is compatible by going to this link.

Bottom Line

Mint Mobile is a great option if you have good T-Mobile coverage in your area. You’ll get the same level of service as post-paid T-Mobile customers, and when the network is congested, your speed will be throttled but it shouldn’t happen too often. Another downside is that you have to buy multi-month plans to save money. Overall, Mint Mobile is a great way to save money and still be on a major carrier network.

Reasons why people are not wealthy

1. Lack of discipline

To be wealthy, you need the discipline to save and invest. If you contribute every month to your 401(k) or your discretionary brokerage account and invest in stocks, mutual funds or ETFs, over time you will build wealth.

2. Inability to delay gratification

Buying a luxury car that you can barely afford provides instant gratification. But real wealth is built by putting off such pleasures and saving for the future so that you can easily afford to buy such things. A dollar saved today can be worth several dollars in the future.

3. Lack of education

It takes money to make more money. People with advanced degrees make more money. This in turn allows them to save and invest more and reach financial freedom early.

4. You play the status game

You buy luxury cars and the latest gadgets to keep up with your friends, colleagues, and neighbors. It feels good to stay in the circle with your peers. If you play the status game, you will never win the wealth game.

5. You don’t understand compound interest

Compound interest is the secret to getting wealthy. Time in the market matters. The longer you invest, the more wealth you can build. People who don’t understand compound interest wait until later in life to invest, which reduces their chances of reaching financial freedom.

6. Lack of basic knowledge about investing

You need basic knowledge about stocks, bonds, ETFs, and mutual funds. You don’t have to be Warren Buffett to be a good investor but you need to know enough to play the investing game. You can learn by reading books but will learn faster by doing. Start a brokerage account, invest small amounts to learn faster.

7. Analysis paralysis

Even the best traders only make money on 50% of the trades. There is no point in overthinking your trades. For most folks, ETFs and mutual funds are the way to go. This means fewer decisions to make and you will at least make market returns.

8. Procrastination

When it comes to saving and investing, people put things off. Whether it’s starting a new brokerage account or contributing to an existing account, take action.

9. Fear of losing money

The stock market is volatile. Your portfolio goes up and down with the market. Making money involves sitting tight when the market moves against you. To be a good investor, you need to overcome the fear of losing money.

10. Lack of a growth mindset

Some people believe that the world is stacked against them and that they can’t make money. You need to have a growth mindset to build wealth.  Millionaires think positively and follow through on their ideas.

11. Unrealistic expectations

Investors are impatient and want to compound their money quickly. But building wealth is slow and takes time. Stock market on average only returns 10% (with a lot of ups and downs)

12. Pay too much in taxes

Find ways to minimize your taxes. Investing in your 401(k) or investing in real estate are legitimate ways to reduce your taxes. Invest the tax savings to grow your wealth.

13. Not having mentors

Hanging out with people with similar goals greatly increases your chances of becoming wealthy. Having a mentor who has done it before helps your wealth-building journey immensely. When investing, you will inevitably run into a rough period at some point. Having a mentor will keep you on track and increase your odds of success.

But in some cases, you may have to choose your own HSA administrator. To choose the right HSA provider, you must consider several factors.

Choosing the right HSA administrator

Choosing the HSA provider can be daunting. Not all major financial institutions offer the HSA. Then, you have to navigate through a number of fees they charge – minimum balance fees, inactivity fees, and investment fees HSA is one of those things where it is  worth it to shop around for the best deal.

Here are the things you should look for when choosing an HSA account.

Maintenance fees

Many HSAs charge monthly fees. Some charge monthly fees if you don’t maintain a minimum account balance. The HSA administrators included in this list don’t have maintenance fees.

Investing options

HSAs are secret IRAs. You can invest your HSA funds in mutual funds or stocks. A self-directed brokerage account is best because it gives you many options to invest with fewer fees, compared to a managed account, which may have fees.

Debit cards

It’s convenient to have an HSA debit card that you can swipe for medical expenses, rather than go online and complete a form to get reimbursed for qualified medical expenses.

Best HSA Accounts

Lively HSA and Fidelity are our two top choices for HSA accounts. The reasons are simple. Both don’t have monthly fees and offer options to invest through a self-directed brokerage account. While Fidelity is a financial behemoth offering everything from brokerage accounts, mutual funds, and IRAs, Lively only offers HSA accounts. Lively was founded in 2016, so it’s a relatively new player on the scene.

Lively offers self-directed brokerage through TD Ameritrade whereas Fidelity offers it through its brokerage arm. If you already have other accounts with Fidelity, it may be worthwhile to open an HSA account with Fidelity as well.

Other HSA administrators on the list may work for you if you maintain higher monthly balances.

Advantages of HSA

Contributions to HSAs are pre-tax. Withdrawals are also tax-free if you use the money for qualified medical expenses.

HSAs are secret IRAs. At age 65, you can withdraw money from HSAs just like an IRA. There are no penalties but you must pay tax on your withdrawals if you use them for non-qualified expenses.

HSAs are portable. You can take the funds from one employer to another, or even transfer them to your individual account.

There is no age limitation but to contribute to an HSA account, you must have an HDHP plan

Not happy with your employer’s HSA account – Choose your own

Sometimes employers choose HSA administrators that have fees and complicated policies. In those cases, you can choose to have your HSA account. Note that employers typically only direct payroll deductions to their sponsored HSAs. It’s up to you to set up contributions if you pick your own HSA administrator.

Bottom Line

HSA accounts are tax-efficient vehicles to save money for medical expenses if you have an HDHP plan. You can invest your HSA funds in mutual funds or stocks. When choosing HSA administrators, keep an eye on monthly fees and the investment options offered by the administrator. Lively and Fidelity are our top picks for HSA accounts, though others on the list might work for you if you maintain a high monthly balance.

In most years, IRS announces inflation adjustments for HSA contributions. So what are the HSA contribution limits for 2021 and 2022.

HSA Contribution Limits

2022 Maximum HSA Contribution Limits

• Individual Plan: $3,650
• Family Plan: $7,300

2023 Maximum HSA Contribution Limits

• Individual Plan: $3,850
• Family Plan: $7,750

Maximum HSA contribution limits include both employee and employer contributions. Keep this in mind as many employers contribute some amount to HSA every year.

HSA Catch-Up Contribution

If you are over 55, the catch-up contribution is $1000 for both individual and family plans for 2022 and 2023.

Requirements To Have An HSA Accounts

High Deductible Plan

To contribute to an HSA plan, you must have a high deductible health plan (HDHP).  As the name implies, HDHP plans have high deductibles. Your HSA account is a way to save for your high deductible expenses.

2022 HDHP Plan limits

Minimum annual deductible – $1400 for individual/$2800 for family
Annual out-of-pocket maximum – $7050 for individual/$14,100 for family

2023 HDHP Plan limits

Minimum annual deductible – $1500 for individual/$3,000 for family
Annual out-of-pocket maximum – $7500 for individual/$15,000 for family

HSA Contribution Deadline

HSA contribution deadline is the same as the tax deadline. So you have until April of the following year to make your HSA contributions for the year (retroactive contributions)

HSA contributions can be changed mid-year if needed

During the open enrollment period, you can set up your HSA contributions. Your employer will withhold your HSA contributions from your paycheck and deposit them in your HSA account. But you can change your HSA contributions anytime during your plan year.

HSA Is A Stealth IRA

HSA accounts are great savings vehicles. You put in pre-tax dollars, you invest your money, withdraw them without paying taxes if you spend them on medical expenses. If you switch jobs, you can take your HSA with you.

Your HSA is a stealth IRA. There is no requirement that you should reimburse yourself immediately after a qualified medical expense occurs. For example, if a medical expense comes up, you can pay it yourself and keep the receipts. You can reimburse yourself in 30 years when your HSA account balance has grown considerably.

At Age 65, Your HSA Can Be Used As An IRA

Let’s say that you don’t have a lot of medical expenses and your account has grown. At age 65, you can pay taxes and withdraw the HSA funds and use them for any purpose. In other words, they become just like a regular IRA.

The best way to put the extra money to use is to make your monthly budget based on four weekly paychecks rather than five. You can use the paycheck to start an emergency fund if you don’t have one, reduce your debt, contribute to a retirement account, save for a vacation or down payment, or save money for a home improvement project.

Take advantage of your 5 paycheck months

Have a plan to put the extra paycheck to work

Lack of planning is the main reason people blow their extra paycheck. Some people don’t even know what months these extra paychecks come in. Have a plan to put the extra dollars to work.

Start an emergency fund – Start an emergency fund if you don’t have one.  Experts recommend having six months of expenses saved in liquid accounts such as a savings account or a money market account for emergencies such as an illness or unexpected job loss.

Pay off your high-interest debt – if you have a high-interest credit card debt or a car loan, use the money to pay some of it off. If you have multiple high-interest loans, start paying off the loan with the highest interest rate, then the loan with the second-highest interest rate, and so on.

Contribute to your retirement account – if you have an IRA or a Roth account, contribute to these accounts to save for retirement.  If you don’t have an IRA, it’s time to open one.

Pay off your mortgage – Consider paying off a portion of your mortgage.  Check with your mortgage company to ensure that you have no prepayment penalties.  More of your future monthly payments will go towards the principal and less towards interest if you do this.

Save for downpayment on a house – If you are planning to buy a house, use the extra money to save for a downpayment on a house

Save money for Christmas gifts – Save the money in your saving account to buy Christmas gifts for friends and family  at the end of the year

Save for a vacation – If you have been planning to go on a vacation, use the extra paychecks to save for the getaway trip.

Save for home improvement projects – Use the money to save for a dream home improvement project, whether it is renovating the kitchen or upgrading your media room

My wife and I drive about 20,000 miles between us. Our cars give us about 25 miles per gallon. So we use approximately 800 gallons per year. With savings of $0.25/gal, that’s an annual savings of $200. That easily pays for the Costco membership. We don’t even have to enter the Costco Warehouse to recoup our membership costs.

Do you need a Costco membership to buy gas at Costco?

Yes, you need to be a member to buy gas at Costco unless you have a Costco Cash card. It doesn’t matter which level of membership you have – Gold Star, Executive, or Business.

You can use a Costco Cash card to purchase gas at Costco without a membership. Costco Cash card is a debit card/gift card that can only be used at Costco. But you will need someone with a Costco membership to purchase it for you. Sometimes, third-party gift card resellers sell Costco Cash cards. Note that if you use a Costco Cash card at the pump, an attendant will need to authorize your transaction.

Do you get credit card rewards or 2% annual cashback rewards for Costco Executive membership?

Costco gas purchases DO NOT qualify for 2% annual cashback rewards for Executive members. But you will earn 4% cashback if you use the Costco branded Visa card, Anywhere Visa Card by Citi,

What forms of payments are accepted?

Costco gas stations accept all Visa credit cards, Costco Cash cards, and debit cards. You cannot use cash, Discover, American Express, or Mastercard. Mobile wallet payments such as Apple Pay and Google Pay are accepted at the pump (mobile wallet payments are also accepted inside the store).

How good is the gas sold at Costco?

Costco gas is cheap but it is also of high quality. Costco gas meets Top Tier standards, which means it has deposit control agents that help your engine run efficiently.

Other tips

Here are a few other things to know before you head to Costco to fill up gas.

1. Unlike other gas stations, traffic flow is one way at the pump. So everyone must enter the gas station in one direction.
2. Costco gas station hours are different from Costco store hours. On weekdays, my Costco store open between 10 am and 8:30 pm where as the gas station is open between 7 am and 7 pm.
3. You will encounter long lines on weekends and evenings. Consider going there during off-peak hours.
4. Some grocery stores such as Kroger and Stop & Shop have excellent fuel rewards programs. If you shop at these stores often, you may be able to purchase gas cheaper there than at Costco

Bottom Line

If you are a Costco member, buying gas at Costco is a no-brainer. It will easily pay for your annual membership. If for some reason, it doesn’t work for your needs and you are unable to recoup your membership cost, remember that Costco has a 100% satisfaction guarantee for its members. You can walk up to the customer service desk and get your membership fee refunded at any time.

If you get paid twice a month, you will get 24 paychecks a year – usually on the 1st and 15th of the month.  But if you get paid biweekly, you will get 26 paychecks a year. That’s two extra paychecks a year.

Don’t use the extra paychecks as an excuse to waste the money on things you don’t need. The key is to plan your monthly budget based on two paychecks rather than three. You can use the two extra paychecks to reduce your debt, save for your vacation, saving for an emergency fund, contributing more to a 401(k) or 529 plan, pay off your mortgage, or do a home improvement project – anything that will improve your financial future.

If you get paid on Fridays:

• If your first paycheck for 2022 is on January 7, then your three paycheck months are April and September.
• If your first paycheck for 2022 is on January 14, then your three paycheck months are July and December.

IF YOUR FIRST PAYCHECK IS JANUARY 7, 2022

If you get paid biweekly, and your first paycheck is on January 7th, your paydays are as follows. Three-paycheck months are in red.

• January 7
• January 21
• February 4
• February 18
• March 4
• March 18
• April 1
• April 15
• April 29
• May 13
• May 27
• June 10
• June 24
• July 8
• July 22
• August 5
• August 19
• September 2
• September 16
• September 30
• October 14
• October 28
• November 11
• November 25
• December 9
• December 23

IF YOUR FIRST PAYCHECK IS JANUARY 14, 2022

If you get paid biweekly, and your first paycheck is on January 14th, your paydays are as follows. Three-paycheck months are in red.

• January 14
• January 28
• February 11
• February 25
• March 11
• March 25
• April 8
• April 22
• May 6
• May 20
• June 3
• June 17
• July 1
• July 15
• July 29
• August 12
• August 26
• September 9
• September 23
• October 7
• October 21
• November 4
• November 18
• December 2
• December 16
• December 30

How To take advantage of your 3 paycheck months

Have A Plan – If you plan, you can put the extra paychecks to work.  Most people don’t have a plan and end up spending that money instead.  Even worse, some people don’t even know what months those extra paychecks come in.

Build Emergency fund – If you don’t have an emergency fund, use the extra paychecks to start one.  The rule of thumb is you need 6 months of expenses saved for emergencies such as an illness or unexpected job loss. Put emergency funds in a liquid account such as a money market account so that you can easily have access to the money without paying penalties.

Pay off your high-interest debt – if you have a high-interest credit card debt or a car loan, use the money to pay some of it off starting with the loan that has the highest interest rate.

Contribute to your retirement account – if you have an IRA or a Roth account, contribute to it to save for retirement.  A few hundred dollars every month may not sound like much but due to the power of compounding, it will be worth a lot more in 20 or 30 years. If you don’t have one, it’s time to open one.

Contribute to a discretionary investment account – You can contribute to a discretionary account and invest in an index funds or in individual stocks. With these investments, you don’t have to wait until you are 59-1/2 to withdraw your money. You can also invest in dividend paying stocks. Dividends are a passive source of income that will nicely supplement your 9-to-5 job,

Pay off your mortgage – Consider paying off a portion of your mortgage.  Check with your mortgage company to ensure that you have no prepayment penalties.  If you do this,  more of your future payments will go towards the principal and less towards interest.

Save for down payment on a house – If you don’t own a house, use the money to save for a down payment on a house

Save money for Christmas gifts – Save the money to buy Christmas gifts at the end of the year

Save for home improvement projects – Use the money to save for that dream home improvement project, whether it is renovating the kitchen or upgrading your media room.

Contribute to a 529 plan – College is getting expensive every year. The earlier you save, the less money you will have to pay out of pocket for your kids’ college expenses.

Bottom line

If you get paid biweekly, you will get two to three extra paychecks a year.  What months you get the extra paychecks depends on your pay calendar.  Have a plan in place to put those extra paychecks to work. Contribute to your retirement account or a discretionary investment account, save for a vacation or your dream home improvement project, pay off high-interest-rate loans, or contribute to a 529 plan to save for your kids’ college expenses.

There is a one-time cost of purchasing the OBi200 Polycom device and it costs around $50. There are no usage limits, so you can make as many calls as you want for free.

Get Free Home Phone Service With OBi Devices

Buy the Obihai Device

First, you need to buy the Obihai OBi200 device. This device will connect to your internet to provide phone service. Obihai OBi200 device has one port, which gives you one phone number. If you need two phone numbers, get the Obihai OBi202, which has two ports. The ports can be used for a telephone or a fax line.

The typical price is around $50 for the OBi200 and $70 for the OBi202. Prices on these drop by $10 to $15 multiple times a year. I got my OBi200 device for around $40 in December.

How does it work?

Obi200 uses Voice over IP (VOIP)  technology to offer phone service. It routes your calls through the internet and not through telephone lines like a traditional telephone company. The OBi devices are integrated with Google Voice (owned by Google, obviously). Google provides phone service for free. Google will provide a phone number if you need one or you can port your number to Google. In either case, your phone number will stay with Google, not Polycom, the owner of OBi.

The OBi devices’ integration with Google Voice (GV)  has a number of advantages. Google allows you to connect more than one phone number to GV. The advantage of this setup is that when someone calls your number, all the numbers connected to Google Voice will ring. Google Voice also allows you to call other countries for a reasonable per minute rate. You will need to buy international calling credit ahead of time if you plan to make international calls.

Get all standard phone features but no recurring bills

With Google Voice and OBi devices, you will get all the phone features you would expect such as caller ID, call blocking, call forwarding, three-way calling, etc. Neither Polycom nor Google Voice will send you monthly bills. In fact, you don’t need to have a credit card on file with either of them

E911

One disadvantage of the Obi VOIP devices is that it doesn’t come with a standard 911. But there is a workaround. You can sign up for a E911 service like Anveo  or PunchAlert, which cost around $25 per year. Once you sign up for an E911 service, the 911 operator will have access to your name and address if you ever have to call 911 .

How to set up?

• First, you need to set up a Google Voice account (need a Gmail account).
• Google Voice will get you a new phone number for free, or you can port your number to Google Voice. Google charges a one-time fee of $20 to port the number to Google Voice.
  • Note that GV will only port-in mobile numbers. So if you are porting in your current landline number, you will first need to port it to a mobile operator such as Ultra Mobile, and then port it to Google.
• Go to Obitalk.com and register your device.  The website will walk you through the steps. It is fairly straight forward. You will also be able to link your Google Voice account to your device at this stage. You will have also have the option to set up E911.

Other Suggestions

While the phone service from OBi200 is reliable, I did run into a couple of issues while setting up the device. The ObiTalk website would not allow me to register the device. I was getting errors but after a few tries, I was able to register. So be persistent if you have registration problems. Polycom’s customer service is not very responsive but thankfully I have never had any issues since then. ObiTalk has an active forum where you can search for answers if you have any questions or problems with the service.

You can buy the Series EE bonds directly from Treasury Direct.  The Treasury no longer issues paper bonds.

Interest rate not as bad as it looks

Series EE bonds a fixed interest rate that is set at the time of purchase. The interest rate can look deceptively low, but at the end of 20 years, the treasury will make a one-time adjustment to ensure that your investment is worth twice what you invested. That is a guaranteed 3.5% return over 20 years. The key here is that, in order to get a 3.5% return, you have to hold the EE bonds for 20 years.

Holding period

You have to hold these bonds for 2o years to double your money. But you can hold them longer, up to 30 years. Treasury will adjust the interest rate after 20 years based on market conditions. Since the interest rates on EE bonds are low, you will be better off redeeming the EE bonds after it doubles in 20 years.

Maximum investment

The maximum investment is $10,00o per person per year. You purchase EE bonds for as little as $25.

Early redemption

The minimum holding period is one year. If you sell these bonds before 5 years, you will lose out on 3 months of interest. If you sell them after 5 years, there is no penalty.

Tax Benefits

Taxes are deferred until you sell the EE bonds. If you use the interest earnings for education purposes, you can exclude them from federal taxes, subject to income limits. EE bonds are exempt from state taxes.

EE Bonds Vs  Series I Bonds

EE bonds are guaranteed to double in 20 years. There is no such guarantee with the I series bonds. Interest on I series bonds consists of a fixed interest rate and a floating interest rate based on inflation. So the value of I series bonds will keep up with inflation but EE bonds won’t if the inflation is high. But if inflation is low, your returns will be higher with the EE bonds.

I Bonds – What You Need To Know

Interest Rate

The interest rate consists of two parts – a fixed rate that will stay the same for the life of the bond and an inflation rate that is set twice a year – in November and April. You can check the total rate by going to Treasury’s I Bond website. Since the interest rates are partly tied to inflation, your money will retain its purchasing power over time.

Series I Savings Bonds Vs Money Market Funds

Unlike money market accounts, I Bonds are long-term investments. While money market funds offer immediate liquidity, SeriesI Bonds can’t be sold for the first 12 months. If you sell the I Bonds within the first five years, you will lose three months of interest.

Holding period

The minimum holding period is 12 months. You can hold the Series I Bonds for up to 30 years.

Two ways to buy – TreasuryDirect (Electronic) and Paper Bonds

You can buy Series I Bonds electronically through treasurydirect.gov. An individual can invest a maximum of $10,000. In addition, you can invest $5,000 in paper bonds by directing the tax refunds for I Bonds purchase.

Couples can stash away $20,000 a year plus $5000 in paper bonds funded by your tax refund.

Taxes

The tax on interest income Series I Bonds can be deferred until redemption.  If you hold these bonds for decades, your money can grow tax-free for a long time. They are not subject to state or local income taxes.

If your using the income from the Bonds to pay for education, the interest income can be excluded from taxes. Check IRS form 8815 for income limits to qualify for the tax exclusion.

Bottom Line

Series I Savings Bonds are a great place to put some of your money because they offer inflation-adjusted returns and tax deferral. Couples can invest at least $20,ooo a year in I bonds. Unlike your stock portfolio, these bonds are not volatile and will keep their value. These bonds are backed by the US Government and will allow you to sleep well at night.