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Tips That Make You Feel Like a Genius
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 …Read more.
Supermarket Tricks That Makes Us Spend More
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 …Read more.
The Struggle to Actually Use up Gift Cards
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 …Read more.
Commingle Personal and Business Finances? Never!
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 …Read more.
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The 411 on Certificates of DepositDear Mary: You mentioned putting your savings in a certificate of deposit at an interest rate of 3 percent. What is the minimum deposit required to open a CD, and is this something that can be done through any bank? I'm clueless! — Naomi, Texas Dear Naomi: All banks and credit unions offer certificates of deposit, which are a kind of savings account. CDs require minimum deposits, $500 to $1,000, and they come with time commitments. A 90-day CD means you must leave your money in that CD for at least 90 days to get the interest promised. If you have to withdraw early, you will lose some of the interest, but your principal will be safe. Interest rates on CDs change daily. At press time, rates were way down. A handy way to shop rates is to go to Bankrate.com and click on "CDs & Investments." You can find the best rates locally and nationally. As I write, the best rate for a 5-year CD in my area is one with a 3.25 percent annual percentage yield (the compounded interest I would receive after five years) at Discover Bank. The best rate for a 30-day CD is 1 percent APY at the same bank. Dear Mary: My mom is building her credit after a bankruptcy. She applied for a line of credit with a local bridal shop to pay interest-free payments on my wedding dress and accessories for my upcoming marriage. She will have the balance paid off within a few months. We appreciate all she is doing for us, and if it came down to the wedding or my mother's ability to retire, I would rather go without.
Dear Megan: She may not qualify for an account with the bankruptcy on her record. If she is granted that account, it will have a negative effect on her credit score, regardless of which store it is. Closing the account will only add another negative. Instead of putting these things on credit, she should make those payments to herself each month. After "a few months," she'll have the money to pay in full with cash, no credit necessary. Better yet, find a more economical way to have a beautiful wedding so it won't put a financial burden on anyone. Dear Mary: I bought the book that you recommended called "Artisan Bread in Five Minutes a Day." What a delight! I never dreamed I could bake bread that tastes as if it came out of a specialty bakery. It's such fun to experiment; there's none of the drudgery usually involved when making homemade bread. It's easier than my bread machine and tastier. Thank you! — Joy P., Virginia Dear Joy: I'm happy to hear that you're enjoying bread making. So am I! You might be interested to know that the authors are getting ready to release a second book, "Healthy Bread in Five Minutes a Day." It's jampacked with recipes, tips and tricks that incorporate healthy ingredients using the same no-knead technique. 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. COPYRIGHT 2009 CREATORS.COM
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