Everyday Cheapskate from Creators Syndicate

Saving Money by Choice, Not by Chance for 07/28/2008

Mon, 28 Jul 2008 00:00:00 -0700

A recent reader question I answered brought a small avalanche of mail, mostly from readers who were aghast that I would suggest they save such a significant portion of their paychecks for retirement. It was money they just didn't think they could afford to save. Here's just one of those messages:

Dear Mary: I am a 34-year-old college grad. My school debt is approximately $46,000. My car loan t ...

Updated: Mon Jul 28, 2008

Get Ready Now To Survive Feb. 17, 2009 for 07/29/2008

Tue, 29 Jul 2008 00:00:00 -0700

At midnight Feb. 17, 2009, all full-power television stations must stop broadcasting in analog and switch to 100 percent digital. Yawn.

Yeah, that was my first reaction, as well. Digital, analog -- who cares as long as the TV comes on when you press "power" and your favorite show beams forth? And that's the point. If you have not switched to digital by the witching hour, you'll be wa ...

Updated: Tue Jul 29, 2008

Curbing Waste by Using the Leftovers for 07/30/2008

Wed, 30 Jul 2008 00:00:00 -0700

You may recall that I made a resolution at the beginning of the year to stop being so wasteful. At the very least, I am much more aware of all the ways it's so easy to be wasteful. Take the pot of coffee I make in the morning. I used to make a full pot for the two of us without even thinking twice. Then I ceremoniously would throw out half of it every evening. Imagine my chagrin when I figured out ...

Updated: Wed Jul 30, 2008

High Cost of Gas Is No Excuse for New Debt for 07/31/2008

Thu, 31 Jul 2008 00:00:00 -0700

Dear Mary: With gas the price that it is, I'm thinking of getting a scooter. I commute 12 miles every day in city traffic. Scooters typically get about 120 miles per gallon, and my Saturn VUE gets about 24 mpg. I live in Minnesota, so I would not be able to ride the scooter year round. Should I add to my debt by buying the scooter and reducing my gas expenses? -- Shawna S., Minnesota

Dear Shaw ...

Updated: Thu Jul 31, 2008

Finding Good, Even in a Recession for 08/04/2008

Mon, 04 Aug 2008 00:00:00 -0700

It's pretty hard to find anything good about gasoline prices hovering at an all-time high in the U.S. But I know that my grandmother would find something to point out. That's just the way she was. She always could find a rainbow, no matter how dark the storm.

I thought about her recently when I read about professors Michael Morrisey, Ph.D., of the University of Alabama, and David Grabowski, Ph ...

Updated: Mon Aug 04, 2008

A Loan Shark You Can Love for 08/05/2008

Tue, 05 Aug 2008 00:00:00 -0700

Can you imagine being eager to pay outrageous amounts of interest? Do you ever see yourself gladly making monthly payments on loans and advances to a greedy finance company? Would you like to love a loan shark? Impossible? No, it's not! All you have to do is become your own banker or private credit union. You'll be borrowing from yourself, making payments to yourself, and collecting high rates of ...

Updated: Tue Aug 05, 2008

Never Buy Scallions Again for 08/06/2008

Wed, 06 Aug 2008 00:00:00 -0700

It's probably not fair that I get to select the winner of our Tip of the Month contest. But hey, someone has to do it, and no one loves time saving and money-saving tips more than I do. To understand my selection this month, you need to know that, for the first time, I'm growing onions. And not in my garden, but in a big pot on the patio right outside the kitchen. What fun! I have scallions like y ...

Updated: Wed Aug 06, 2008

Generous Friend Gets Burned for 08/07/2008

Thu, 07 Aug 2008 00:00:00 -0700

Dear Mary: I had a girlfriend stay with me for two weeks. I spent $1,200 during her stay, which included food, restaurants, transportation and entertainment. In all, she spent $30 at the most to reciprocate. Now that I've gone through it, what is the right way to have a guest long term, financially speaking? What is the protocol of the guest and the hostess? Please educate me. -- Gladys, e-mail

Updated: Thu Aug 07, 2008

A Solution for House-Rich and Cash-Poor Seniors for 08/11/2008

Mon, 11 Aug 2008 00:00:00 -0700

If you, your parents or other seniors in your life are sitting on a big load of home equity while struggling to get by each month on a fixed income, listen up. The solution may be a Home Equity Conversion Mortgage, often referred to as a "reverse mortgage." As long as you own a home, are at least 62 years old and have sufficient equity, you can get a reverse mortgage. There are no specia ...

Updated: Mon Aug 11, 2008

Cheap, Yes, but Not at the Expense of Others for 08/12/2008

Tue, 12 Aug 2008 00:00:00 -0700

A recent letter from "Everyday Cheapskate" reader Jackie brought up a topic I've thought about a lot: cheapskate etiquette. She writes: "Can you address the difference between being cheap and being underhanded? I am asking this in the context of my job as a manager for a retail store. On more than one occasion, I have engaged in arguments with people who are trying to get deals from ...

Updated: Tue Aug 12, 2008

A Quick and Easy Pet-Watering Kit for 08/13/2008

Wed, 13 Aug 2008 00:00:00 -0700

If you've got pets, you are going to love today's first reader tip that combines creativity with recycling. Even if you don't have pets of your own, it is a great gift idea for someone who does have animals.

THIRSTY PETS. I had a trainer give me the following tip for carrying water along for your animals. Take two plastic milk jugs that are exactly the same. Cut out the bottom of one jug to ma ...

Updated: Wed Aug 13, 2008

A Fabulous and Free Photo Party for 08/14/2008

Thu, 14 Aug 2008 00:00:00 -0700

Dear Mary: What's the deciding factor on when to drop full insurance coverage from an older vehicle? I've just paid off the loan on a 1999 Buick Regal. It's in fair shape and has about 106,000 miles on it. -- Barbara E., e-mail

Dear Barbara: It just might be time to dump both collision and comprehensive insurance on this car because it is fully paid for (many people still are making payments o ...

Updated: Thu Aug 14, 2008

Tough Times Come and Go for 08/18/2008

Mon, 18 Aug 2008 00:00:00 -0700

It was January 1992. The economy was tanking, especially in California, where we watched helplessly as the aerospace industry melted away in the wake of the Defense Department cutbacks.

There was a sense of panic as the real estate market began to slide, unemployment climbed, and bewildered yuppies wondered whether they'd be able to eat their BMWs or pay their mortgages with Rolex watches.

Updated: Mon Aug 18, 2008

What To Do With Unwanted Electronics for 08/19/2008

Tue, 19 Aug 2008 00:00:00 -0700

A recent letter from a reader wanting to know how to get rid of an old scanner brought a flood of reader mail -- and just as many great ideas for how to give unwanted electronics another life.

STUFF THAT WORKS: The National Cristina Foundation accepts donations in all 50 states and distributes electronics to schools, charities and public agencies. Donation must not require major repair. For mo ...

Updated: Tue Aug 19, 2008

How To Tackle a Mess of Jewelry for 08/20/2008

Wed, 20 Aug 2008 00:00:00 -0700

I just love to open the mail and find money-saving and timesaving tips from readers. Some of them make me wonder, "Why didn't I think of that?" Others make me smile. Take today's first tip, for example. It's a great idea, but would I first need to redecorate our master bedroom in a fishing theme? Then it dawned on me that such an organizational item could be tucked into a closet or drawe ...

Updated: Wed Aug 20, 2008

Cheap Rent Trumps an Option To Purchase for 08/21/2008

Thu, 21 Aug 2008 00:00:00 -0700

Dear Mary: The rent on our three-bedroom house went up from $850 to $1,000 a month. We were struggling to pay the $850, so we really can't afford the increase. We have looked in an apartment community where our rent would be about $750 a month. I also found another home that could be a great permanent family home. It is a rental, with the option to purchase. The monthly rent would be $1,000. We ha ...

Updated: Thu Aug 21, 2008

Money Lessons From Katrina for 08/25/2008

Mon, 25 Aug 2008 00:00:00 -0700

With the third anniversary of Hurricane Katrina fresh on our minds, it's a good time to reevaluate our own individual readiness for the unexpected. Are you ready? Could you find your documents and your kids and be out of your home on short notice? Or if you were sequestered in your home for an extended period of time, do you have basic provisions to last?

I suggest that we all take time this w ...

Updated: Mon Aug 25, 2008

The Dangers of the 401(k) Debit Card for 08/26/2008

Tue, 26 Aug 2008 00:00:00 -0700

The thriftiness that once characterized Americans such as my grandparents has vanished. Instead, we've turned into a nation that's great at borrowing, terrible at saving, and in love with convenience.

The latest in especially dangerous conveniences is the 401(k) debit card, which makes it too easy to borrow from your retirement account. A number of companies are beginning to offer these cards ...

Updated: Tue Aug 26, 2008

Instant Italian Sausage for 08/27/2008

Wed, 27 Aug 2008 00:00:00 -0700

If you are a member of The Grocery Game (an online site that does all the work so you can be a coupon queen or king), you know that, from time to time, seasoning packets are so cheap they're almost free. Now, thanks to today's first tipster, I have a fabulous new use for at least one of those packets sitting in my pantry. Read on …

ITALIAN SAUSAGE. I use this quick tip to turn ground be ...

Updated: Wed Aug 27, 2008

Student Debt: What a Pain! for 08/28/2008

Thu, 28 Aug 2008 00:00:00 -0700

Dear Mary: Our daughter graduated from college with more than $100,000 in student loans. Her first job did not pay enough for her to begin repaying the loans. The only loan that we co-signed is more than $600 a month. We did not know that it was in default until she was several thousand dollars behind. This came at us after a home remodel and a wedding. We are not prepared to pay this loan, and we ...

Updated: Thu Aug 28, 2008