Everyday Cheapskate

Dear Mary: My mortgage payment dropped by $84. Should I add that amount back to my principal every month? Or should I add it to my Visa card payment? I owe $6,124.09, with a minimum monthly payment of $184 at 8.9 percent interest. Please advise. Thank you! — Sandra T., California

Dear Sandra: I'll take what's behind door No. 2, Monty. Seriously. More than that, you need to forgo other spending so you can double or triple your credit card payment each month. There is nothing as important right now as paying off your unsecured debt. Not cable television, eating out, new clothes or mindless spending that is eating up the money you need to get rid of that debt!

Here's something else: You are sitting on a time bomb with that variable-rate mortgage. Should interest rates take off (experts I trust predict that they will), your mortgage payment could shoot through the stratosphere.

Interest rates on fixed-rate mortgages are still at historic lows right now, which means you still have a window of opportunity to refinance into a fixed rate. But you need careful guidance so you don't get ripped off with fees and sneaky terms. I highly recommend that you read "Mind Your Own Mortgage," by Rob Bernabe, and also visit Rob's very useful website, http://www.MindYourOwnMortgage.com. You can trust Rob to guide you through the process and give you the confidence you need to get it right.

Dear Mary: I want to be frugal and save money, but I'm also very health-conscious about myself and my 98-pound Newfoundland/golden retriever mix.

Dear Paty: Making your own dog treats allows you to control what goes into them. It is not only a lot of fun but also a great way to use up small amounts of vegetables, meats and other food items that otherwise may have gone to waste in your kitchen. There's a really great website, All-natural-dog-treat.com, that's packed with hundreds of pet treat recipes, research and nutritional advice for all dog breeds. With permission from the site's owner, Jen, here's a recipe your buddy is sure to enjoy!

LOW-PROTEIN VEGGIE TREATS

2 1/2 cups whole-wheat flour

1/2 teaspoon garlic powder (optional)

6 tablespoons low-sodium, low-fat chicken broth

1/2 cup cold water

1 cup cooked vegetables (sweet potatoes, zucchini or winter squashes, cooked and smashed or pureed)

Preheat oven to 350 F. Combine flour and garlic powder. Mix in chicken broth and smashed or pureed vegetable(s). Add enough cold water to form a ball. Roll out dough to 1/2 inch, and cut out using a bone-shaped cookie cutter. Place on a nonstick cookie sheet, and bake for 25 minutes. Let cool. Store all homemade dog treats in the refrigerator. This recipe and more can be found at All-natural-dog-treat.com.

Do you have a question for Mary? E-mail her at mary@everydaycheapskate.com, or write to Everyday Cheapskate, P.O. Box 2135, Paramount, CA 90723. Mary Hunt is the founder of www.DebtProofLiving.com and author of 18 books, including "Can I Pay My Credit Card Bill With a Credit Card?" To find out more about Mary and read her past columns, please visit the Creators Syndicate Web page at www.creators.com.

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