(KRON)—KRON4 financial analyst Rob Black talked about the abundance of candy kids have the day after Halloween on Tuesday.
Buying back candy has become a big business for companies like Soldiers Angels and Operation Gratitude, according to Black.
People spent $2.7 billion on Halloween candy this year and they are going to give away a lot of it.
“It’s not financially smart, but it is good for your teeth,” Black said.
To find a local charity that will buy back candy, visit HalloweenCandyBuyBack.com.
Elon Musk announced Tesla is working on solar panel car roofs.
Tesla’s deal with SolarCity is part of it. The roofs will cost about $70,000, according to Black.
“It’s tempered glass on top of a panel, so you can’t really see it,” Black said.
You can have the tiles of the Tesla solar panels heat up which is useful if you live on the East Coast, he said.
Amazon.com is launching Black Friday deals already.
One of the deals offered a pressure cooker for 60 percent off, according to Black.
Since Amazon is offering two months full of Black Friday deals, it is a good time to buy items for your loved ones, Black said.
A viewer named Wanda asked if it was a bad idea for her son to get a Macy’s credit card.
Black said he thinks it is not a good idea.
“Anyone who carries a balance on a store credit card is not financially sane,” he said.
Companies like Zales charge 29 percent per year and Staples charges 28 percent for their cards.
Macy’s is more competitive, but it’s still above 15 percent.
“It’s just a horrible deal,” Black said.
You don’t earn 15 percent more each year, so anything you buy is 15 percent more per year, according to Black.
Some of the bonuses you have to be careful of like 20 percent up to $200, so it’s not as good of a deal as you think.
“The cards are okay for people who are young and starting out and need credit,” Black said. “But I can’t think of a reason for anyone to have it in their wallet or carry it on a regular basis.”