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Don’t Miss These Cinco de Mayo Restaurant Specials

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cinco de mayo restaurant specials

Cinco de Mayo, which falls on a Sunday this year, is a Mexican celebration that recognizes Mexico’s win over France during the Battle of Puebla, which happened on May 5, 1862. While the holiday primarily takes off in Puebla in Mexico, it has gained a significant amount of traction in the United States as well. As a result, many restaurants offer deals and freebies to attract more patrons, and some even host parties and giveaways. Here is a look at some of the most exciting Cinco de Mayo restaurant specials for 2019.

Applebee’s

If you can’t get enough of Applebee’s Dollarita promotion, you’ll be happy to know that the chain extended the deal to cover Cinco de Mayo. Plus, you can get $2 Dos Equis from May 1 through May 5.

Abuelo’s

On May 5, take advantage of the margarita and beer specials at Abuelo’s. For $5, you can get a Grande Mexican draft beer. Plus, some locations are offering a special Flag Margarita – which is green, white, and red – for just $6.95 as part of the fiesta.

Bahama Breeze

During the weeklong “Fiesta Like There’s No Mañana” celebration, which also includes Cinco de Mayo, you can get a classic margarita for just $5. If you would rather take advantage of the create-your-own rum and tequila flights, that will cost you $10.

Just be aware that, if you head to an Ohio or Virginia location, the specials are only available until 9:00 pm. Everywhere else, you can usually score these deals until close.

Bar Louie

Many Bar Louie locations are hosting “Cabo de Mayo” parties filled with food and drink specials. In some locations, you can get a $5 Cinco Rita or two tacos for just five bucks. You may also find drink deals on Sammy Hagar’s Santo Mequila, a mix of tequila and mezcal.

Bubba Gump Shrimp Co.

If you want to keep things simple on Cinco de Mayo and don’t mind dining in the bar or lounge area, make a trip your nearest Bubba Gump Shrimp Co. Most locations are offering $4 Corona Extras and $1 tacos on May 5.

California Pizza Kitchen

Throughout all of May 5, California Pizza Kitchen’s that serve the Fresh Agave Lime margaritas are making the drink available for only $5.

Chevys Fresh Mex

On Cinco de Mayo, you can enjoy brunch at Chevys Fresh Mex from 8:00 am to 3:00 pm, including bottomless mimosas. If you would rather eat later, many locations will have deals on beer, margaritas, and shots.

Chili’s

On May 5, Chili’s is offering $5 draft beets, Tequila Trifecta Ritas, and Presidente Margaritas to patrons who decide to dine at the chain.

El Torito

Head on over to El Torito between 8:00 am and 2:00 pm on May 5 and you can order the brunch special, which does come with bottomless champagne. There will also be $5 margaritas, micheladas, and bloody marys.

After 2:00 pm, there will be other drink specials too. Plus, you can score tacos for just $2.50.

Hungry Howie’s

If you want to celebrate Cinco de Mayo with a pizza, you can get a large one-topping pizza at Hungry Howie’s for just $5.55. The deal actually runs from May 1 to May 5, so you don’t have to wait for Cinco de Mayo to take advantage of the special.

Joe’s Crab Shack

Joe’s Crab Shack is selling buckets of Modelo Especial for just $20 on May 5. Plus, there will be tacos on the menu.

Margaritas Mexican Restaurant

While the deals will vary from one location to the next, you can head over to the chain on Friday, Saturday, or Sunday for music, ten parties, raffles, drink specials, and all-you-can-eat specials. If you want additional details, look up your nearest Margaritas Mexican Restaurant to read more about its event.

Moe’s Southwest Grill

Select Moe’s Southwest Grill locations will be serving up $5 burritos all day on May 5. Plus, if you’re one of the first customers of the day on Cinco de Mayo, you might score a free t-shirt too.

Monterey’s Little Mexico

From May 1 through May 7, participating locations are selling all-you-can-eat enchiladas for $9.99.

On The Border

On The Border locations will have drink specials on Cinco de Mayo, and many will have live music. You can get a $5 Cinco ‘Rita or tequila shots for as little as $3.

Taco Cabana

From May 4 through May 6, you can get $3 margaritas, $9.99 dozen flauta boxes, and $4 frozen vodka raspberry lemonades at Taco Cabana. Other specials may be available too, though they could vary by location.

TGI Fridays

On Cinco de Mayo, you can get a Fridays ‘Rita, shot of Patron, or 23-ounce draft Dos Equis for $5 each.

Tijuana Flats

Starting on Friday, May 3, and running through Sunday, May 5, Tijuana Flats has a $5 deal. You can get two tacos, two beers, or one taco and one beer for just $5. Plus, many locations will have music, prizes, and games for patrons decide to dine in.

Überrito

If you don’t mind dining in, you can get $5 bowls, burritos, and salads on May 5 at Überrito.

Yard House

In celebration of Cinco de Mayo, Yard House is selling house margaritas, pomegranate margaritas, and salted watermelon margaritas for just $5 each.

Are you heading to a restaurant to celebrate Cinco de Mayo this year? Share your plans in the comments below.

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How Soon Should I Refinance My House?

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Refinancing your mortgage can be a smart move. Sometimes, you can secure a lower interest rate, make your payments more manageable, or even access equity to make improvements or consolidate debt. However, figuring out whether it is the right time to refinance your home isn’t always easy. Interest rates frequently shift, and your financial situation (and credit scores) may be different compared to when you last got a mortgage, making it hard to predict what sort of rate or terms you may be able to access. Luckily, there are things you can do to figure out if now is the right time based on your unique circumstances. Here are some points to examine.

Interest Rates

One of the biggest reasons people cite for refinancing is landing a better interest rate. Depending on your credit score and when you initially secured your last mortgage, now may or may not be a good time to refinance.

Usually, experts recommend only refinancing if you can get an interest rate that is at least one percent lower than your last one. If your credit score has improved – such as by going from 660 to 720 – then you might be able to just that. When your credit score is higher, you may be eligible for more favorable terms, though this can depend on how much it has gone up and how lending standards have changed.

Similarly, if mortgage interest rates have declined significantly since you locked in your last loan, you might be able to get a better one even if your credit score is unchanged. For example, the average rate in November 2008 on a 30-year fixed-rate mortgage was 6.03 percent. In 2018, the average rate sat at 4.54 percent; that’s a decrease of 1.49 percent.

Whether mortgage rates are in your favor depends on the interest rate currently associated with your loan and your credit score. You’ll need to examine your loan account and credit score to see if refinancing to secure a better rate is a smart move today.

Additionally, you need to consider the possibility that interest rates may rise throughout 2019, and possibly beyond. This could make acting sooner rather than later a better decision if today’s rates are lower than your current one. However, mortgage rate changes are somewhat hard to predict, so there is no guarantee that the upward trend will continue.

Going Fixed

If you are currently paying off an adjustable rate mortgage – also known as an ARM – refinancing into a fixed-rate mortgage instead could be a smart move. Periodic rate adjustments can cause your mortgage payment to keep creeping higher, particularly if an upward trend continues.

However, it does mean you won’t automatically benefit from interest rate declines. An ARM interest rate can shift both upward and downward depending on market conditions, while a fixed-rate mortgage remains unchanged throughout the life of the loan. But a fixed-rate mortgage can provide you with peace of mind, as you’ll always know what you need to pay every month.

Eliminating PMI

If you didn’t put 20 percent down when you bought your home, there’s a good chance that you are paying for private mortgage insurance (PMI). PMI gives the lender some additional financial protection in case you are unable to pay your mortgage, as there may not be enough value to cover the remaining principal on your loan.

Once you pay down your loan and have 20 percent in equity, PMI doesn’t automatically go away. Unless you refinance your mortgage, you could be paying this additional expense for the life of your mortgage.

By refinancing, you may be able to eliminate PMI as long as you maintain at least 20 percent of your home’s value as equity. Typically, PMI costs somewhere between 0.5 and 5 percent annually based on the original loan amount. If you originally financed $125,000 and have a PMI rate of 1 percent, your PMI payment would be $1,250 a year, or about $104.17 a month.

Getting rid of PMI can make refinancing a smarter choice even if you can’t reduce your interest rate by a full 1 percent.

Watch Out for Fees

If you decide to refinance, you are essentially applying for a new mortgage. As a result, you are going to encounter a variety of fees you’ll need to pay.

For example, lender origination fees can cross the $1,000 mark. While you can usually wrap these up into your mortgage, it will impact your monthly payment and the amount of interest that accrues.

There are also numerous third-party fees when you get a mortgage. You might have to pay for an appraisal out of pocket as lenders rarely allow that cost to get rolled into the loan. Lender title insurance fees can also get quite high, at times nearing $1,500. Escrow fees can be several hundred dollars, and the assignment recording fee can be a few hundred dollars more.

All of these fees add up, hence why experts usually only recommend refinancing if you get an interest rate that is at least 1 percent lower than your existing one. That way, what you save in interest usually outweighs the impact of these costs.

Payment Considerations

If you refinance your current mortgage into a longer term, either by starting the 30- or 15-year clock over or by flipping from a 15-year to a 30-year loan, you could end up with lower monthly payments. For homeowners who are struggling to make their current payment, this could provide some level of relief, as long as you don’t lose any savings through higher interest rates or lender fees.

Similarly, if you have equity you can tap, a cash-refinance loan could allow you to consolidate other higher interest debts. This is another path that can lower your total outgoing payments, which may make it easier to manage your budget.

Ultimately, whether now is the right time for you to refinance depends on your situation. Examine your interest rate, check your credit score, and see if you have PMI you could eliminate. If you have equity, you can also explore debt consolidation through a cash-out refinance to see if that improves your situation. Until you take a look at the entire picture, you can’t be sure whether refinancing is a smart move, so do a little research and decide from there.

Have you recently refinanced your home? Are you thinking about refinancing now? Tell us why in the comments below.

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What Is an Immediate Annuity and Is It Right for You?

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For most people, having a source of regular income is a necessity. An immediate annuity is a financial service that provides a consistent and predictable flow of incoming funds. Essentially, the beneficiary provides a lump sum payment to the company and, in exchange, receives an agreed-upon amount every year. While an immediate annuity could help maintain cash flow, it also isn’t right for everyone.

How an Immediate Annuity Works

With any form of an annuity, you are essentially purchasing insurance that provides a known outcome. It isn’t an investment, even though they can earn a return. Instead, the primary purpose of an annuity is to give the beneficiary a guaranteed amount of money every year for the remainder of their lives or a set number of years.

An immediate annuity involves entering into a contract with an insurance company. The insurer receives a lump sum upfront. Then, the recipient receives annual payments every year.

A few factors impact how much the beneficiary receives. For example, the kind of annuity affects the annual payment, as fixed, variable, and inflation-indexed immediate annuities are all calculated differently.

Fixed vs. Variable

Fixed annuities come with a set payment every year. Variable versions may have a guaranteed minimum payout, but it can also be tied to a specific stock market index, causing the payments to fluctuate based on market performance. Inflation-indexed immediate annuities start with smaller annual payments, though the payout rises over time to account for inflation.

The recipient’s age and the term they select also play a role. When you choose a term, you are dictating how long the annuity needs to last, whether that be a specific number of years or the rest of a person’s life, regardless of how long that will be. The recipient’s age helps the insurer estimate the person’s remaining lifespan, allowing them to calculate a yearly payment amount.

Is an Immediate Annuity Right for You (or Your Loved One)?

In most cases, an immediate annuity is a source of income for retirees or any individual who does not have a steady influx of cash due to an inability to work, such as someone with a serious disability. However, based on how the arrangement functions, younger people with longer anticipated lifespans usually don’t want to go this route even if they can’t work anymore. Since the annual payment is calculated based on how much longer the company believes the person will live (unless you use a term for only a set number of years), the yearly income may be so small that it doesn’t make sense to pursue an annuity.

Opting for an immediate annuity over other options for generating long-term income can be beneficial to some people. First, an annuity comes with a guarantee; you know exactly how much you will receive and for how long, and that provides a level of financial security. If other sources of guaranteed income (like a Social Security or pension payments) cover less than 50 percent of your expenses, then an annuity could be a smart move.

Second, healthy retirees who could outlive other forms of retirement savings may benefit from an annuity. Since life-long terms are available, an annuity prevents one source of income from running out over time. Finally, an annuity can make it harder to over-spend early in one’s retirement. Since you only receive a set amount, you can’t spend more of your annuity until the next payment arrives. If someone is concerned about making poor financial decisions should their cognitive abilities decline with age, this acts as a level of protection.

However, to start an immediate annuity, you do need a large lump sum, and that isn’t practical for everyone. Plus, the setup fees can be high, eating into that initial lump sum.

Additionally, if the recipient passes away, the benefit may expire depending on the exact terms of the arrangement. If the beneficiary is in poor health, then a significant amount of money may never be paid out, and there might not be any way for families to get it back.

Can You Get a Refund on an Immediate Annuity?

Once you sign up for an immediate annuity, changing your mind isn’t an option. Once the contract is in place, that’s it. You can’t renegotiate or ask for your money back. They also cannot be canceled for a prorated amount.

Your only alternative at that point is to use a company that provides lump-sum payments in exchange for becoming the beneficiary of the annuity. You won’t get near the full value of the remaining annuity in these arrangements, so it is important to understand that a loss is pretty much a guarantee when going this route.

Do you have (or know anyone with) an immediate annuity? Tell us about it in the comments below.

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When to Refinance a 15 Year Mortgage to a 30 Year Mortgage

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Refinancing your mortgage can provide you with a range of benefits. If you manage to score a lower interest rate and aim for a similar term, saving thousands of dollars over the life of your loan could be possible, depending on your existing principle.

The decision to refinance a 15-year mortgage to a 30-year mortgage usually isn’t about financial gain. Typically, 15-year mortgages have better interest rates. Plus, a 30-year mortgage, at a minimum, doubles your repayment term, so you are almost guaranteed to spend more in interest before you pay it off.

However, that doesn’t mean refinancing to a 30-year mortgage is always a bad idea. If you are trying to decide what is right for you, here are some points to consider.

Lower Monthly Payments

When you extend the length of the repayment timeline, your monthly payments are typically lower. For example, if you refinance $200,000 in principle over 30 years with a 4 percent interest rate, your monthly payment would be around $955. That same amount and interest rate on a 15-year loan would have a monthly payment of $1,479. That’s a difference of $524 a month.

Even if the 30-year loan came with a 5 percent interest rate, the payment on a $200,000 mortgage would be $1,074. That’s still $405 less than a 15-year loan for the same amount at 4 percent.

If you are struggling to make the larger payments associated with a 15-year loan, refinancing to a 30-year term could relieve some of the burden. Your monthly payments could be dramatically smaller, suggesting the interest rate you qualify for is similar to your existing 15-year loan.

Higher Total Cost

While your monthly payment on a 30-year loan would be smaller, the total cost is significantly higher. Using the same $200,000 mortgage as an example, having a 15-year loan at 4 percent interest, the total you would pay over the life of the loan is $266,288.

In comparison, a 30-year loan with the same interest rate runs $343,739 over the life of the loan. You’d pay $77,451 more using this approach than sticking with a 15-year mortgage.

A 30-year loan with the 5 percent interest rate is even worse, costing you $386,510 over the life of the mortgage. That means this 30-year loan costs you $120,222 more in the end, suggesting you stick to the original payment schedule.

Other Factors

There may be other factors that impact how much refinancing could benefit you. For example, if your current loan has PMI, but you now have at least 20 percent in equity, a refinance could allow you to rid yourself of that extra cost. This applies whether you refinance into a new 15- or 30-year loan.

If your current 15-year mortgage monthly payments are only unaffordable because of PMI, refinancing into a new 15-year loan could allow you to experience a reduced payment without the drawbacks of an extended term, suggesting you can get the same interest rate.

Additionally, if you are in a 15-year adjustable rate mortgage, refinancing could allow you to get a fixed interest rate instead. While switching to a fixed rate means you wouldn’t automatically benefit if interest rates fall, it also keeps your interest rate from climbing. This approach provides a level of stability that makes it easier to budget for your payment. You know exactly what you need to pay and when which is often better for budgeting.

When to Refinance a 15-Year Mortgage to a 30-Year Mortgage

Ultimately, whether refinancing into a longer term is a smart move depends on your unique situation. In most cases, refinancing to a 30-year mortgage means a lower monthly payment but practically guarantees that you will pay more in interest over the life of your loan.

However, if you choose a mortgage that does not come with a prepayment penalty, you can offset some of the difference if your financial situation improves. For example, you can make extra payments toward the principle when you have the opportunity, reducing the amount of interest you’ll pay over the remainder of the loan.

Similarly, if freeing up some money each month means you can avoid or pay down credit card debt (which usually comes with much higher interest rates compared to mortgages), you might come out financially ahead overall. This could apply even if refinancing into a 30-year mortgage means having to take on a higher interest rate than you had with your 15-year loan, suggesting that the new mortgage interest rate is lower than what you have on your credit cards.

As of April 2019, the average interest rate on a 30-year fixed mortgage was about 4.3 percent. In comparison, the average credit card APR is about 17.5 percent. That’s a 13.2 percent difference.

Deciding When to Refinance Your Mortgage

If you are trying to decide, take a look at your entire financial picture first and foremost. Examine all of your current interest rates and determine if you could pay off high-interest debt faster if your refinance. It may also be wise to craft two versions of your budget, one reflecting your current situation and one based on your possible mortgage payment if you refinance, to give you a better idea of how your financial life would compare.

In the end, the choice is yours. But, by using that approach, you can better assess the pros and cons based on your unique situation.

Have you ever refinanced a 15-year mortgage to a 30-mortgage? What about the other way around? Tell us why in the comments below.

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Here Are the Best Easter Deals and Freebies for 2019

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For 2019, Easter is on Sunday, April 21. Many families in the United States plan to celebrate the holiday spending time with friends and family. This also means that some retailers will offer enticing Easter deals and freebies to draw in shoppers. While Easter may not have as many sales other holidays, there are still plenty of opportunities for great deals and freebies.

Best Easter Deals and Freebies

Whether you are looking for discounts on décor, sales on candy, or even a few freebies (including free eggs), there are tons of great Easter deals to be had. Here are some that may be worth going out of your way to land.

Free Eggs

Easter just isn’t complete without some colored eggs. Luckily, you can enjoy this ritual for less, thanks to this amazing Easter freebie.

If you download the Coupons.com app, you can find an opportunity for free eggs from Walmart starting on April 15. Just “clip” the offer, buy eggs at Walmart and send over a copy of your receipt to receive a reimbursement. Just make sure you take advantage of the deal by April 21, or you’ll miss out.

Retailers

  • 1-800 Flowers: Save 20 percent on select Easter gifts and plants by using the code ESTRBUNNY
  • Amazon: You can save up to 25 percent on select candy
  • Bass Pro Shops: Children age 2 to 10 years old can participate in a free Easter egg hunt on April 20. Plus, there are free Easter crafts for kids and free pictures with the Easter bunny from April 13 through April 21
  • CVS: Discounted Easter candy is available at CVS Pharmacy locations
  • Edible Arrangements: Select fruit baskets may qualify for free delivery using code FREEDEL
  • GiftsForYouNow: 15 percent off personalized Easter gifts with code HOP15BDM
  • Hobby Lobby: Easter party decorations and craft items are up to 40 percent off
  • Michaels: Many Easter craft and décor items are on sale, including some discounts of up to 50 percent or more
  • Fields: Easter gifts are 20 percent off with code BUNNY
  • Personal Creations: With discount code PCGIFT25, you can get personalized Easter baskets for 25 percent off
  • Pottery Barn: Select Easter Shop items are up to 40 percent off
  • Russel Stover: Select Easter treats are on sale for up to 25 percent off
  • Shari’s Berries: Gourmet Easter gifts are up to 20 percent off
  • Target: The Easter weekly ad is now live, featuring $5-and-under items to boost Easter baskets and BOGO deals on candy
  • Teleflora: Using code APRIL15, you can get 15 percent off gift baskets, flowers, plants, balloons, chocolates, and stuffed animals. For flowers, plants, or gift baskets priced $50 and higher, code APRIL10 gets you $10 off instead
  • Things Remembered: Select personalized Easter items are on sale
  • Walmart: Many Easter items are available at a discount

Restaurants

  • Bob Evans: For those who want to eat at home but want to simplify the holiday, Bob Evans officers a Premium Easter Feast To Go that you just heat and serve
  • Cracker Barrel: If you would rather have your Easter dinner catered, Cracker Barrel is offering a Heat n’Serve Easter Family Meal to-go that can be prepared in three hours or less and serves up to 10 people
  • Del Frisco’s Grille: Starting at 10:00 am, Easter brunch is available at Del Frisco’s Grille
  • Macaroni Grill: Macaroni Grill is holding a special Easter brunch on April 21
  • McCormick & Schmick’s: From 11:00 am to 3:00 pm on Easter Sunday, participating McCormick & Schmick’s locations are hosting an Easter brunch buffet

All of the options above can make your Easter more enjoyable while keeping it affordable too. If you are interested in any of the options above, it is important to act fast. Some items, deals, and freebies may only be available in limited quantities, so those who make arrangements first get priority.

Similarly, if you want to head out to brunch, you may need to contact your nearest location and attempt to make a reservation. Popular restaurants may not be able to accommodate walk-ins for their special Easter brunch option, so contact your location and see if you can reserve a table if you have your heart set on that option.

Additionally, any online orders should be handled quickly. Otherwise, depending on the available shipping options, your Easter items may not arrive before Sunday.

Since Easter is still a few days away, other deals and freebies may also come available. If you have a favorite store or restaurant, monitor their sales flyers, social media pages, or email newsletters to see if any more discounts might be available this Easter.

Can you think of any other Easter deals and freebies that people should seek out? Share them in the comments below.

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