I'm beginning to wonder if the title of this blog is a misnomer. I do enjoy frugal living and writing about it, but since I'm semi retired (again!), former interests have taken a larger part in my life. It's been fun, being able to bake a loaf of bread when I want to, planning a garden more thoroughly, knitting bed socks and blankets and rummaging through thrift stores for favorite treasures.
Some of these favorite treasures are collectibles, mostly from the 20th century. I enjoy Depression Glass and marketing history, among other things, so I thought, "Why not?" Why not write about that, too? I couldn't find a reason not to, so I did. :)
The Story of Fire King from Anchor Hocking
Quaker Oats Premiums Through the Years
Maybe that will give you a clue as to why I love to shop at thrift stores. Besides clothing, books and more modern household items, they can be great sources of collectibles to keep, give as gifts or sell. Why not?
Tuesday, February 22, 2011
Thursday, February 17, 2011
Should College Students Have Credit Cards?
Should College Students Have Credit Cards?
Brian Jenkins, a member of the BrainTrack writing team, contributes feature articles that offer great advice for college students. For more information, check out BrainTrack's Facebook page.
Many college students see a credit card as a piece of plastic that let's them buy whatever they want. They don't think about the debt they're piling up. College students should realize that by using a credit card they're taking out a loan that has to be repaid. Also, people without an established credit history might pay the highest interest rates, and that group usually includes students.
Qualifying for a Credit Card
People under the age of 21 can't obtain a credit card unless they have an independent source of funds to pay the bills or a parent cosigns the application. The parent has to provide written permission before the credit limit can be raised.
If a parent cosigns the application, then they're jointly liable for any debts their child piles. If this happens, the parent's credit gets harmed along with their kid's if they don't pay the bills on time.
Problems with credit cards, including late or missed payments, stay in a person's report for seven years. A credit report is needed to buy a car or apply for an apartment lease. Also, many employers review a prospective employee's credit report.
Is your college student responsible enough to have a credit card? Will he damage his credit report by not making payments on time? One option is to make a deal with your kid that a credit card can only be used for emergencies.
Sallie Mae Report
Check out the following information before you cosign a credit card for your college student:
According to a 2009 report by Sallie Mae entitled "How Undergraduate Students Use Credit Cards":
This report by Sallie Mae underscores the importance of parents educating their college students about using credit cards wisely.
Marie O'Malley, director of consumer research for Sallie Mae and author of this study, said, "too many students are at risk of overpaying for college by pulling out credit cards to pay for text books or even part of their tuition bill, instead of using less expensive financial aid to cover these items."
Reasons College Students Should Have a Credit Card
The length of a person's credit history is a factor in their credit score. If your child doesn't get a credit card until he's 21, it probably increases the cost of borrowing money to buy a car when he's 23 or so.
College students can use one or two credits card with a low credit limit to establish a credit history. However, students that take out student loans may actually begin their credit history at age 18.
Prepaid credit cards are a good idea for college students. However, they function more like debit cards and they won't help establish a good credit history.
College students should be aware that their credit record can have a lasting impact on their lives. Should you cosign a credit card application with your child? Your college student's financial maturity is an important factor when determining if they should have a credit card.
Brian Jenkins, a member of the BrainTrack writing team, contributes feature articles that offer great advice for college students. For more information, check out BrainTrack's Facebook page.
Many college students see a credit card as a piece of plastic that let's them buy whatever they want. They don't think about the debt they're piling up. College students should realize that by using a credit card they're taking out a loan that has to be repaid. Also, people without an established credit history might pay the highest interest rates, and that group usually includes students.
Qualifying for a Credit Card
People under the age of 21 can't obtain a credit card unless they have an independent source of funds to pay the bills or a parent cosigns the application. The parent has to provide written permission before the credit limit can be raised.
If a parent cosigns the application, then they're jointly liable for any debts their child piles. If this happens, the parent's credit gets harmed along with their kid's if they don't pay the bills on time.
Problems with credit cards, including late or missed payments, stay in a person's report for seven years. A credit report is needed to buy a car or apply for an apartment lease. Also, many employers review a prospective employee's credit report.
Is your college student responsible enough to have a credit card? Will he damage his credit report by not making payments on time? One option is to make a deal with your kid that a credit card can only be used for emergencies.
Sallie Mae Report
Check out the following information before you cosign a credit card for your college student:
According to a 2009 report by Sallie Mae entitled "How Undergraduate Students Use Credit Cards":
- College seniors graduate with an average credit card debt of over $4,100.
- Almost one-third of undergraduates put college tuition on their credit card; an increase from 24 percent in 2004.
- About 92 percent used credit cards to pay for school supplies, textbooks, and other direct education expenses.
- 84 percent of undergraduates have at least one credit card. On average, students have 4.6 credit cards.
- Many college students use credit cards to live beyond their means and more than three-quarters have incurred finance charges by carrying a monthly balance.
- According to the survey, sixty percent of students were surprised at how high their balance had reached.
- 40 percent stated that they charged items knowing they didn't have the money to pay the bill.
- Just 17 percent stated they regularly paid off all credit cards each month.
- 84 percent of undergraduates reported they need more education regarding financial management topics.
This report by Sallie Mae underscores the importance of parents educating their college students about using credit cards wisely.
Marie O'Malley, director of consumer research for Sallie Mae and author of this study, said, "too many students are at risk of overpaying for college by pulling out credit cards to pay for text books or even part of their tuition bill, instead of using less expensive financial aid to cover these items."
Reasons College Students Should Have a Credit Card
The length of a person's credit history is a factor in their credit score. If your child doesn't get a credit card until he's 21, it probably increases the cost of borrowing money to buy a car when he's 23 or so.
College students can use one or two credits card with a low credit limit to establish a credit history. However, students that take out student loans may actually begin their credit history at age 18.
Prepaid credit cards are a good idea for college students. However, they function more like debit cards and they won't help establish a good credit history.
College students should be aware that their credit record can have a lasting impact on their lives. Should you cosign a credit card application with your child? Your college student's financial maturity is an important factor when determining if they should have a credit card.
Tuesday, February 15, 2011
High and low in the grocery store
Did you ever have to stand on your tippy toes to reach your favorite brand on the top shelf? There's a reason for that. Grocery stores (and other stores; I won't just pick on grocery stores) display the most expensive items, and the ones with the most impulse appeal, at what is eye level for most people.
Surprising? It shouldn't be. We need to be aware that all stores do everything they can to get us to buy as much as possible every time. That's the name of the (marketing) game and we play it whether we know the rules or not.
Products on the lower shelves often appeal to children, which is a good incentive for keeping children in the shopping cart! Generic products are often down there, too, so they don't compete directly with brand name products which are, of course, at eye level.
The next time you go into a grocery store, compare the prices of the items on the lower shelves with those on the middle to upper middle shelves, then compare those with the prices of items on the very top shelf. Do it in several different areas of the store and see what you come up with.
Surprising? It shouldn't be. We need to be aware that all stores do everything they can to get us to buy as much as possible every time. That's the name of the (marketing) game and we play it whether we know the rules or not.
Products on the lower shelves often appeal to children, which is a good incentive for keeping children in the shopping cart! Generic products are often down there, too, so they don't compete directly with brand name products which are, of course, at eye level.
The next time you go into a grocery store, compare the prices of the items on the lower shelves with those on the middle to upper middle shelves, then compare those with the prices of items on the very top shelf. Do it in several different areas of the store and see what you come up with.
Friday, February 11, 2011
Wednesday, February 9, 2011
How to Make Your Own Kitchen Cleaners
Guest post from Bailey Harris. Bailey writes about insurance and other topics for the Home Insurance Blog.
If you are concerned about the health of your family, the environment and your budget, why not make your own kitchen cleaners? We all have a cupboard full of dangerous toxins and wasted money. It only takes a few simple non-toxic items and a couple of empty spray bottles to make your own cleaners. Not only will you be making your household eco-friendly, you will also save a considerable amount of money. There are six basic ingredients needed to make all of these cleaners, and you probably have most of them in your household already.
Floor Cleaners
There are many different recipes for homemade floor cleaners. I will give you directions for a basic all purpose floor cleaner. All you need for this all-purpose floor cleaner is a 1/2 cup of white vinegar and 2 gallons of hot water, mix these in pail or bucket well, mop once with the solution and once with water to rinse. Add essential oils such as orange, lemon, or lavender for a great scent and to help to cut the grease.
Oven Cleaner
All you need to remove those stubborn grease stains from your oven is three simple ingredients and a little time. Mix 3/4 cup of baking soda with 1/4 cup salt and a 1/4 cup of water in a bowl to form a thick paste. Dampen the inside of the oven with a wet cloth and apply the paste. Let it sit overnight. In the morning wipe clean with a damp sponge. You can use a steel wool pad for hard to clean spots.
Clogged Drains
The first step of getting a drain unclogged is to remove as much water as possible and plug the drain on the opposite side. Pour a 1/2 cup of baking soda down the drain followed by a 1/2 cup of vinegar, let it sit for 10-15 minutes, then pour a pot of boiling water down the drain. You should not try this if you have already used commercial cleaners; it is possible that they will have a bad reaction.
Microwave Ovens
Cleaning your microwave oven can be extremely easy and low cost. You will need to mix 2 tablespoons of baking soda and 1 cup of water in a microwave safe bowl. Microwave 3 minutes or until boiling. Let it sit in there a couple minutes, and then wipe clean with a sponge or paper towel. Not only will this clean your microwave, it will also deodorize it.
All Purpose Spray
This all purpose spray can be used on just about any surface in your kitchen. You will need 2 tablespoons of baking soda, 1 quart of warm water, and a clean spray bottle. Put the ingredients in the bottle and mix it up. Although this is a great cleaner it is not a disinfectant.
Disinfectant All Purpose Spray
This is a great spray cleaner to use on kitchen surfaces such as cutting boards, garbage cans, counters, and walls. This spray does not work well on glass, the oil causes striking. Mix 3-5 drops of natural dish soap with 15-30 drops of tea tree oil and 2 cups of water in a spray bottle. Clean away. This spray also works to destroy mold and mildew.
Saturday, February 5, 2011
Inexpensive automobiles. Why not?
Why can't we manufacture cars that almost everyone could afford to buy new and many could buy without having to finance them? India does. Check out the Tata Nano and the Bajaj Auto. Both of these are under $3,000 in cost. Why?
Why not? Maybe we have too many government controls, too much union power and too much greed. Possible answers? I think so.
I'm sure some of you will disagree. Some of the standards these automobiles are built to may not comply with the standards enforced in the US. The low price would mean that Detroit would either have to make some drastic changes or go out of business - or get more government funding. These are things to be considered.
Still... if it's possible somewhere else, why isn't it possible here? It wouldn't even have to be done all at the same time, but if the automobile manufacturers would start to move in that direction instead of adding more and more bells and whistles and charging more and more... maybe they'd sell more.
And maybe more people would have more jobs making more cars and selling more cars and cleaning showrooms and transporting new cars and... just maybe.
Why not? Maybe we have too many government controls, too much union power and too much greed. Possible answers? I think so.
I'm sure some of you will disagree. Some of the standards these automobiles are built to may not comply with the standards enforced in the US. The low price would mean that Detroit would either have to make some drastic changes or go out of business - or get more government funding. These are things to be considered.
Still... if it's possible somewhere else, why isn't it possible here? It wouldn't even have to be done all at the same time, but if the automobile manufacturers would start to move in that direction instead of adding more and more bells and whistles and charging more and more... maybe they'd sell more.
And maybe more people would have more jobs making more cars and selling more cars and cleaning showrooms and transporting new cars and... just maybe.
Saturday, January 29, 2011
The future of food... is it here?
Ok, I'm worried. Or beginning to worry. Food prices are still going up and there are many reasons for them to continue to rise. One is the weather. You don't have to look very far to see extreme weather. Snow measured in feet instead of inches, droughts that hang on and on, floods, tornadoes in places that don't get tornadoes.
And then there is the threat of diseases. Blights, fungi and bacterial problems are beginning to plague monoculture megafarms. Loss of seed variety, encouraged by Monsanto and GMO practices, add to the threat. It's becoming more and more difficult to maintain heritage seeds - seeds that are needed to ensure the continuation of food crops.
Crop failure, no matter what its cause, can be disastrous now more than ever, because we live in a global world. Preferring local food can be seen as backwards and nonproductive.
What product prices should we be most concerned with? Start reading the labels on your shelves because those products very probably contain some of these.
Wheat - bread, rolls, cookies, cake... pizza dough, cabbage rolls and the hundreds of items that use wheat and/or gluten.
Corn - popcorn, sweet corn, corn meal, corn flour, corn starch, corn syrup, high fructose corn syrup... this affects the cost of literally thousands of products.Corn has almost doubled in the last 6 months or so.
Soy is another one that has seen rising prices. Not just in soy sauce or soy milk, soy is found in many, many products.
But maybe you've heard this before? In 2007, there was great concern (although much of it behind closed doors, they tell us) about rising food prices and possible shortages. Food prices did rise, but not so much that we didn't adjust and go on. Will it be that way this time?
I don't know, but I'm hearing rumbles that I never heard before. Rumbles of crucial food shortages, of hunger increasing, of government programs not being able to keep up, of food banks having to turn away people. Do you think our government will tell us if there was a serious food shortage? No way... people panic. People act stupid when they fear anything, and the government knows it.
Hunger and food riots have always happened somewhere else... not here in the USA. We have lots of cheap food... don't we? I believe the near future may tell us a different story.
Pay attention to the overall picture and watch your food budget closely.
And then there is the threat of diseases. Blights, fungi and bacterial problems are beginning to plague monoculture megafarms. Loss of seed variety, encouraged by Monsanto and GMO practices, add to the threat. It's becoming more and more difficult to maintain heritage seeds - seeds that are needed to ensure the continuation of food crops.
Crop failure, no matter what its cause, can be disastrous now more than ever, because we live in a global world. Preferring local food can be seen as backwards and nonproductive.
What product prices should we be most concerned with? Start reading the labels on your shelves because those products very probably contain some of these.
Wheat - bread, rolls, cookies, cake... pizza dough, cabbage rolls and the hundreds of items that use wheat and/or gluten.
Corn - popcorn, sweet corn, corn meal, corn flour, corn starch, corn syrup, high fructose corn syrup... this affects the cost of literally thousands of products.Corn has almost doubled in the last 6 months or so.
Soy is another one that has seen rising prices. Not just in soy sauce or soy milk, soy is found in many, many products.
But maybe you've heard this before? In 2007, there was great concern (although much of it behind closed doors, they tell us) about rising food prices and possible shortages. Food prices did rise, but not so much that we didn't adjust and go on. Will it be that way this time?
I don't know, but I'm hearing rumbles that I never heard before. Rumbles of crucial food shortages, of hunger increasing, of government programs not being able to keep up, of food banks having to turn away people. Do you think our government will tell us if there was a serious food shortage? No way... people panic. People act stupid when they fear anything, and the government knows it.
Hunger and food riots have always happened somewhere else... not here in the USA. We have lots of cheap food... don't we? I believe the near future may tell us a different story.
Pay attention to the overall picture and watch your food budget closely.
Monday, January 24, 2011
Enjoying the fruits of my labor
I try to make it happen more often than not: A meal grown from my own garden or gotten by means other than go-to-the-store-and-buy-it. This time it was pinto beans grown in last year's garden. I put in a little turkey ham (cheaper than pork ham and considering that I can't eat pork...), and a little ham/smoke flavoring bought at the local salvage grocery for almost nothing.
With the beans, I had cornbread with the cornmeal made partly from corn I grew year before last and partly from popcorn that didn't want to pop well. I also used buttermilk from butter I'd made a couple of weeks ago. The teaspoon of baking powder it took came from a canister I'd found marked 'way down - an unusual find.
Along with beans and cornbread, there were greens. Wild greens, gathered from my back yard last year.
I also fried a pan of Jersualem artichokes, growing like weeds from a half dozen roots I planted about three years ago. I will never run out of those.
And butter, homemade. And ice tea, homemade.
I didn't add up the cost; somehow that would have spoiled the effect. I am happy to know that so much of the meal came from the labor of my own hands and not from some grocery shelf.
With the beans, I had cornbread with the cornmeal made partly from corn I grew year before last and partly from popcorn that didn't want to pop well. I also used buttermilk from butter I'd made a couple of weeks ago. The teaspoon of baking powder it took came from a canister I'd found marked 'way down - an unusual find.
Along with beans and cornbread, there were greens. Wild greens, gathered from my back yard last year.
I also fried a pan of Jersualem artichokes, growing like weeds from a half dozen roots I planted about three years ago. I will never run out of those.
And butter, homemade. And ice tea, homemade.
I didn't add up the cost; somehow that would have spoiled the effect. I am happy to know that so much of the meal came from the labor of my own hands and not from some grocery shelf.
Monday, January 17, 2011
Gardening in January
So. It's mid January, the seed catalogs are piled high, the grow light is... oops, forgot to turn it on this morning. There, now. The grow light is encouraging a few onions and lettuce for now. Next year, I'm going to use it for herbs when it gets too cold outside. The other grow light - the one that's supposed to hang on something when I don't have anything to hang it on, will be used for starting seedlings for the garden soon. I lay it over bricks to get it the right height. Necessity is the mother of invention, right?
But this summer I plan to try to create a system similar to the one I got for Christmas which is the one I'm using now. It's a frame with a hanging light that can be adjusted over a planter.
Yeah... I can garden in the dead of winter. ;)
So far, I've just been looking at the seed catalogs, but sooner or later, I will try to plan where to plant what. With a limited area, I have to be pretty creative at times, but so far, so good. I already have most of the seed that will be needed this year, but of course, I gotta try something different now and then.
Frugal take on a garden is all that good food. It can be cheaper than the grocery store kind and it's a whole lot better.
Ways to make a garden more frugal:
Want to talk about it? It's time!
But this summer I plan to try to create a system similar to the one I got for Christmas which is the one I'm using now. It's a frame with a hanging light that can be adjusted over a planter.
Yeah... I can garden in the dead of winter. ;)
So far, I've just been looking at the seed catalogs, but sooner or later, I will try to plan where to plant what. With a limited area, I have to be pretty creative at times, but so far, so good. I already have most of the seed that will be needed this year, but of course, I gotta try something different now and then.
Frugal take on a garden is all that good food. It can be cheaper than the grocery store kind and it's a whole lot better.
Ways to make a garden more frugal:
- Container garden in castaway containers.
- Make your own compost.
- Hoe and pull weeds by hand.
- Try no till gardening
- Make your own special fertilizers
- Water by drip irrigation instead of overhead
Want to talk about it? It's time!
Friday, January 7, 2011
Are Travel Credit Cards Really Worth It?
You’ve probably noticed a huge surge in commercials for travel credit cards over the last few months. It seems as if every airline and hotel chain out there is trying to get you to apply for their credit card. Although these promotions are tempting, the cold hard truth is that travel rewards credit cards won't save money for most people. Let me explain…
Almost all of them have annual fees
First and foremost, very few of these travel cards are free. Sure, they may have a promotion that gives you no annual fee for the first year, but after that you will probably be stuck paying $60 to $100 or more just to keep the card. Think about it – if a credit card has an annual fee of $100 over the course of a decade you will have paid $1,000 just to have it!
Rewards/benefits are specific to one airline or hotel
Typically if you want the best benefits, you have to go with a credit card that is affiliated with a specific airline/hotel. The problem with this is that very few of us always fly the same carrier or stay at the same hotel. Most of us just go with whoever is cheapest at the moment when we are booking a trip. However if you have a United Airlines Mileage Plus card, for example, you may feel compelled to fly United even if they cost a few bucks more for a given flight. I know several people who do this – the ironic outcome is that their card that was meant to save them money is actually causing them to spend more money than they otherwise would!
You’re paying for benefits you don’t use
Personally, I believe a good chunk of annual fees are nothing but profit for the bank, but a portion of these fee do go to pay for cardholder benefits. Now if you use the benefits all the time then you could get your money’s worth. For example, my Citi Thank You Premier card makes sense for me personally because I use the travel benefits all the time... but for most people it wouldn’t be a good choice. If you have a card and you rarely take advantage of its benefits then you are definitely getting the short end of the stick.
Let me give you an example… a lot of folks sign up for the Delta credit card because of its first checked bag for free. That saves $50 per roundtrip so if you fly Delta multiple times per year it is probably worth it. On the other hand, if you only take a vacation once every year or two, you will be reaping $50 in free luggage in exchange for paying $95 per year just to have the darn card.
Rewards on regular spending are average
The typical travel rewards credit card may give double or triple points on purchases from its affiliated airline, but only one point per dollar on all other spending. If a bulk of your spending is with that affiliated airline/hotel, then great! However for the average Joe or Jane, only a tiny percentage of their spending will be on airplane tickets or hotel stays. So essentially, they will be getting closer to 1 point per dollar on average (and if that’s all they’re going to get, there’s plenty of credit cards that offer that for free).
Most travel credit cards are geared towards big spenders
With almost every airline credit card on the market, you will need to spend $25,000 to $50,000 just to earn yourself one free roundtrip ticket. For the average American, it could take years to spend that much… all the meanwhile they will be paying that annual fee. The math on a lot of these cards just doesn’t make sense unless you make a high volume of purchases.
Conclusion?
Travel rewards credit cards only make sense for those that either (a) travel a lot, or (b) spend a lot. If you don’t fall into one of those categories, you would probably be better off with a good no annual fee cash back credit card instead.
This post was written by guest blogger Michael, the founder of CreditCardForum. On a personal note, he uses the Citi Thank You Premier card but only because he lives on the opposite side of the country as his family, and hence, flies back frequently to see them. He stresses that the card’s $125 annual fee would not make sense for the vast majority of people.
Almost all of them have annual fees
First and foremost, very few of these travel cards are free. Sure, they may have a promotion that gives you no annual fee for the first year, but after that you will probably be stuck paying $60 to $100 or more just to keep the card. Think about it – if a credit card has an annual fee of $100 over the course of a decade you will have paid $1,000 just to have it!
Rewards/benefits are specific to one airline or hotel
Typically if you want the best benefits, you have to go with a credit card that is affiliated with a specific airline/hotel. The problem with this is that very few of us always fly the same carrier or stay at the same hotel. Most of us just go with whoever is cheapest at the moment when we are booking a trip. However if you have a United Airlines Mileage Plus card, for example, you may feel compelled to fly United even if they cost a few bucks more for a given flight. I know several people who do this – the ironic outcome is that their card that was meant to save them money is actually causing them to spend more money than they otherwise would!
You’re paying for benefits you don’t use
Personally, I believe a good chunk of annual fees are nothing but profit for the bank, but a portion of these fee do go to pay for cardholder benefits. Now if you use the benefits all the time then you could get your money’s worth. For example, my Citi Thank You Premier card makes sense for me personally because I use the travel benefits all the time... but for most people it wouldn’t be a good choice. If you have a card and you rarely take advantage of its benefits then you are definitely getting the short end of the stick.
Let me give you an example… a lot of folks sign up for the Delta credit card because of its first checked bag for free. That saves $50 per roundtrip so if you fly Delta multiple times per year it is probably worth it. On the other hand, if you only take a vacation once every year or two, you will be reaping $50 in free luggage in exchange for paying $95 per year just to have the darn card.
Rewards on regular spending are average
The typical travel rewards credit card may give double or triple points on purchases from its affiliated airline, but only one point per dollar on all other spending. If a bulk of your spending is with that affiliated airline/hotel, then great! However for the average Joe or Jane, only a tiny percentage of their spending will be on airplane tickets or hotel stays. So essentially, they will be getting closer to 1 point per dollar on average (and if that’s all they’re going to get, there’s plenty of credit cards that offer that for free).
Most travel credit cards are geared towards big spenders
With almost every airline credit card on the market, you will need to spend $25,000 to $50,000 just to earn yourself one free roundtrip ticket. For the average American, it could take years to spend that much… all the meanwhile they will be paying that annual fee. The math on a lot of these cards just doesn’t make sense unless you make a high volume of purchases.
Conclusion?
Travel rewards credit cards only make sense for those that either (a) travel a lot, or (b) spend a lot. If you don’t fall into one of those categories, you would probably be better off with a good no annual fee cash back credit card instead.
This post was written by guest blogger Michael, the founder of CreditCardForum. On a personal note, he uses the Citi Thank You Premier card but only because he lives on the opposite side of the country as his family, and hence, flies back frequently to see them. He stresses that the card’s $125 annual fee would not make sense for the vast majority of people.
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