Everyday Cheapskate from Creators Syndicate

Mortgage Insurance? Not on Your Life! for 02/16/2012

Thu, 16 Feb 2012 00:00:00 -0800

Dear Mary: I just bought a house, and I've been getting a lot of flyers about mortgage protection insurance. Is it something good for a new homeowner or just a waste of money? — Donna, email

Dear Donna: Great questions. "Mortgage protection insurance" (not to be confused with "private mortgage insurance" or PMI) is really life insurance with a specific provision ...

Updated: Thu Feb 16, 2012

Tips That Make You Feel Like a Genius for 02/15/2012

Wed, 15 Feb 2012 00:00:00 -0800

Secretly, I feel like a genius when I discover a secondary use for this or that — in case I run out of this, but have plenty of that! Like using a paper coffee filter to wash a glass top or mirror when I'm in a pinch for paper towels. Or using a paper towel to create a coffee filter when I discover at the worst moment that we're out of filters! You're going to feel like a genius, too, onc ...

Updated: Wed Feb 15, 2012

Supermarket Tricks That Makes Us Spend More for 02/14/2012

Tue, 14 Feb 2012 00:00:00 -0800

I've always thought of myself as pretty sharp when it comes to spotting supermarket trickery. I'm not even fazed by an end-cap display announcing, "Special." I know their ways. They hope we'll just assume that "special" means "super cheap sale." But we're so much smarter than that. Which is why I was taken aback by a recent article by our friends over at TLC Discov ...

Updated: Tue Feb 14, 2012

The Struggle to Actually Use up Gift Cards for 02/13/2012

Mon, 13 Feb 2012 00:00:00 -0800

My love-hate relationship with gift cards has intensified. What a pain, really. I'm one who just forgets to use them, and when I remember, I try to figure out how to use each one to the last cent. I was reminded of my situation recently when I cleaned out my wallet and found a small collection of cards in need of action.

First up was a Verizon Visa Rebate Card. Why on earth does a Verizo ...

Updated: Mon Feb 13, 2012

Commingle Personal and Business Finances? Never! for 02/09/2012

Thu, 09 Feb 2012 00:00:00 -0800

Dear Mary: I am reading your book, "Debt-Proof Living," and have begun tracking my expenses. I have a home-based business. Should I include business expenses or just personal expenses in the tracking? — Lucy, Vermont

Dear Lucy: You should keep your personal and business finances completely separate. As a business owner, you have to think of yourself as two people: 1) Empl ...

Updated: Thu Feb 09, 2012

In Recessionary Times, Thrift Stores Are Booming for 02/08/2012

Wed, 08 Feb 2012 00:00:00 -0800

I love to read about the ingenious ways people are dealing with the effects of this unrelenting recession. Reminds me of a news story I read recently about the rise in popularity of thrift stores. They're becoming so popular, in fact, new ones are popping up about as fast as traditional retailers are closing. It's all about supply and demand, and clever ways to pay less for the things we need a ...

Updated: Wed Feb 08, 2012

How to Stop Paying for Standby Power for 02/07/2012

Tue, 07 Feb 2012 00:00:00 -0800

Take a stroll through all the rooms in your home tonight when it's dark. Notice all the little green or red lights staring at you from TVs, cable boxes, phone chargers, computer peripherals, sound systems, the coffee maker and the microwave. I did this recently, and it was like walking through a forest filled with tiny critters staring back at me.

Those lights are powered by something kn ...

Updated: Tue Feb 07, 2012

Debt: The Good, Bad and Really Ugly for 02/06/2012

Mon, 06 Feb 2012 00:00:00 -0800

All debt falls into one of three categories: reasonable, toxic and neutral.

Reasonable, or good, debt is the result of borrowing money to buy something that has a high likelihood of increasing in value, and in so doing will increase your net worth.

Buying a home with a low-risk mortgage would be an example of reasonable debt because as the debt is repaid and the home appreciates i ...

Updated: Mon Feb 06, 2012

Make Your Own Cream Soups, and Save a Bundle for 02/02/2012

Thu, 02 Feb 2012 00:00:00 -0800

Dear Mary: I love the recipes you include from time to time in your column. I am trying to find recipe substitutes for the popular creamed soups, like cream of celery, cream of mushroom, etc. These condensed soups are killing my budget. I don't even want to pay a buck a can for the generic option at Walmart! — Nikki, Colorado

Dear Nikki: Here's a bulk recipe to use in place of cann ...

Updated: Thu Feb 02, 2012

How to Remove Latex Paint Stains From Carpet for 02/01/2012

Wed, 01 Feb 2012 00:00:00 -0800

Want to get latex paint out of carpet, upholstery or any other kind of fabric — even if it's old and dried up? Saturate the stain with lacquer thinner (not paint thinner, not mineral spirits or anything else you might be tempted to substitute) applied with a clean white cloth (so there is no chance of transferring the color from the cloth to the item to be cleaned). Allow it to sit for a ...

Updated: Wed Feb 01, 2012

Free Checking Accounts Still Out There for 01/31/2012

Tue, 31 Jan 2012 00:00:00 -0800

Many bank customers have been feeling nickeled-and-dimed by their banks for some time. And as banks scramble to make up for lost revenue, some are demanding even steeper fees. The country's largest banks are charging consumers as much as $50 a month if they do not maintain minimum balances or meet other requirements for certain high-end checking and savings accounts. What lunacy! Why should we ...

Updated: Tue Jan 31, 2012

Even the much-ballyhooed Plus-One idea (four-team playoff) could've—and more than likely would've—finished with two SEC teams playing for it all. LSU would have played Stanford in one semifinal, and Alabama would've played Oklahoma State in the other. And for 01/30/2012

Mon, 30 Jan 2012 00:00:00 -0800

When high school science teacher Ray Janke bought a home in western Massachusetts, he decided to see just how much he could save on his electric bill. He didn't do big things like replacing windows or installing high-end insulation. His changes were simple, like switching to compact fluorescent light bulbs and plugging up the home's air leaks.

Janke was so successful in getting his usage ...

Updated: Mon Jan 30, 2012

Investing in Pillows for 01/26/2012

Thu, 26 Jan 2012 00:00:00 -0800

Dear Mary: Any advice on buying pillows? I'll go to the store and pick one that's soft yet gives the support I want, but within a few months it's flat. How in the world do I pick a pillow that will stay full? — Kathy, Texas

Dear Kathy: With pillows, like many things, you get what you pay for. A $5 pillow at Target will provide comfort for a period of time, but you can bet it will g ...

Updated: Thu Jan 26, 2012

It's Cheaper Than Gift Wrap for 01/25/2012

Wed, 25 Jan 2012 00:00:00 -0800

As a self-professed fabric-holic, today's first reader-submitted tip got my attention. What a great idea. Now why didn't I think of that?

IT'S A WRAP. I thought of this column as I was wrapping one of those awkward gifts for my grandson's birthday party. Why is it everything for kids comes in a funny shaped package? My solution is the dollar-a-yard fabric table at Walmart. I buy a couple ...

Updated: Wed Jan 25, 2012

Why 15 Cents Matters for 01/24/2012

Tue, 24 Jan 2012 00:00:00 -0800

I used to think that small amounts of money didn't matter. What difference could $5 here or $10 there make when we were more than $100,000 in debt (not counting the house and cars)? So what if I increased our debt by such a small amount — it wouldn't really matter because we already owed so much. I used the same argument for not paying anything more than the minimum monthly payments on ou ...

Updated: Tue Jan 24, 2012

DIY Laundry Detergent: Cheaper and Better for 01/24/2012

Tue, 24 Jan 2012 00:00:00 -0800

Why on earth would anyone want to make laundry detergent, you ask? Several reasons come to mind, such as allergies, environmental issues associated with phosphates and the need for special, high-efficiency, low-sudsing detergent for front-loading washers. But perhaps the most compelling reason is the cost: You can make your own laundry detergent for as little as $.02 a load. Two pennies!

Updated: Tue Jan 24, 2012

How to Preserve Newsprint for 01/19/2012

Thu, 19 Jan 2012 00:00:00 -0800

Dear Mary: I am looking for a procedure to prevent the yellowing of newsprint. Any ideas? Thanks. — Marilyn, Illinois

Dear Marilyn: It's the high acid content that makes newsprint turn yellow. And just as you would treat acid in your tummy, you need to soak that paper in antacid. Mix 1 quart club soda with two tablespoons Milk of Magnesia, and refrigerate for eight hours before usi ...

Updated: Thu Jan 19, 2012

Creative Ways to Replace Favorites for 01/18/2012

Wed, 18 Jan 2012 00:00:00 -0800

For a couple of years, I have been secretly mourning the loss of my favorite cake saver. Here's the best (or worst) part: I paid $1 for it in some sale bin somewhere. It was the best I've ever had, and I assumed it was irreplaceable. I am thrilled to know how to replace it — for a buck. You go ahead and read today's Reader Tips. I'm off to the dollar store!

TRANSPORT A CAKE. I coul ...

Updated: Wed Jan 18, 2012

The 411 on Cleaning Wood Floors for 01/17/2012

Tue, 17 Jan 2012 00:00:00 -0800

If there's one thing I've learned in searching for the answer to the simple question, "How should I clean my wood floors?" this is it: There is no simple answer.

Naively, I assumed that wood in its simplest form has been standing out in the rain since the beginning of time without the slightest hint of water damage. Surely a regular scrub with a bucket of hot soapy water would ...

Updated: Tue Jan 17, 2012

Borrowing and Financing, There's a Difference for 01/16/2012

Mon, 16 Jan 2012 00:00:00 -0800

OK, my Dear Readers, I have a question for you: Is there a difference between borrowing and financing? Don't stress. I'll tell you: There is, and understanding the difference is important to your financial health.

Debt is the result of both borrowing and financing. But think of debt as a rope. You can use it to lift, rescue and tie things together, or you can use it to hang yourself.

...

Updated: Mon Jan 16, 2012