Wise Bread

The Art of the Trade

Margaret Garcia-Couoh — Sat, 17 May 2008 00:28:12 -0400

Things are getting worse not better—my work has been scaled back, our bills have not been scaled back and there’s little sense in being angry at the budget when not enough money was made to execute it properly in the first place. So how are we going to make the home repairs for summer? Tune up the car to go visit grandma? Get swimming lessons for the kids? Acquire the dehydrator for the raw foods diet?

Perhaps, rural living is helping---we know most of the neighbors and they know my husband has a valuable part-time skill---he’s a computer handyman---and that in a pinch when you need some quick little blurb written or kids need tutoring, I’m your woman. And that’s all we’ve needed to get by this spring.

We have a new queen size bed that retails for $2000 but we are on computer repair installment with an extended family in trade. We get a bed, and they get top priority for computer servicing. Our local mechanic suggested we ‘horse trade’ services. So, we pay for parts, but not labor and in turn, his computer problems are solved without the big bill. I’m tutoring a kid for a woman who will carpool with my husband to save on gas.

While this does mean we are taking in less cash for both my sideline and my husbands, we are seeing more clients and are banking on them telling their friends. My husband has never advertised his business but he always has a few consistent jobs to do every week. Taking in more trades means getting to know more people in the community. In turn, we let people know what we are looking for and they spread the word.

Case in point is my new Excalibur Food Dryer that I priced at $179.00. I didn’t have the money but my husband helped the owner learn how to sell his stuff on eBay and in exchange we got the dryer for free. We didn’t know this guy, but the family that we traded the bed on knew we what we were looking for and hooked up the connection for us.

Sometimes trades don’t work. Don’t just take a trade because the people are offering you something. If it isn’t something you use or need, don’t trade. Those are the clients that should just get charged your regular standard amount for your service. We’ve gotten caught in this one a few times. I’ve got extra Tupperware I don’t use because of this. And one year I had movies I never got around to watching. Make it worth it! I think we’ve been blessed by being a diversified household. Someone always needs one of the three or four skills we have. If you do this as a family, it really works.

My greatest trade is a rent free cottage in the woods in which to write in peace. It’s kind of a karma trade. Two years ago my husband offered this couple our garage and DSL for their business as they were moving across country. Now, I’ve secured the vacant cottage and cabin they left behind unrented. I’m watering their orchard and mowing the lawn in exchange as well. Summer retreat is looking nice!

Truly a fine way to meet the neighbors and to get that community spirit flowing. What karmic trades are happening in your neck of the woods?

Permalink | Comments | Margaret Garcia-Couoh's blog | Channel: Frugal Living, Art and Leisure, Budgeting, DIY

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Timeless Tips For College Students

Julie Rains — Fri, 16 May 2008 14:55:23 -0400

By Julie Rains

Want to get good grades in college or help your favorite student thrive? My older sister gave me what I still consider the single best piece of advice on how to do well in college. Struggling College Student of College Survival Tools agrees, and has timeless and contemporary tips.

My older sister’s best advice on how to do well was pretty simple: Go to class. Struggling College Student’s equivalent is “stay away from… skipping class” (#6).

With the exception of a couple of sessions (one of which was to attend an NCAA Men’s Basketball Championship game in Philadelphia; another was to catch a ride home on a Friday afternoon), I never missed a class. I wasn’t trying to be a perfect student (which perhaps I should have done) but it did occur to me, at some point in my college career, that doing a bit of work on the front side meant a lot less work overall.

More tips from me:

Do all of the required reading
Go to tutoring sessions if you need to or think you could possibly benefit; getting help from another student or instructor, rather than drudging through books or assignments alone, can give you better perspective on a subject and may cut your studying time dramatically
Tackle any problems as quickly as possible; don’t wait until the days before the final exam to visit your professor’s office
Get a job or engage in some sort of significant extracurricular activity; you’ll end up managing your time better
Watch out for deadlines
Participate in discussions (especially if you are taking an online class) even if you think you know everything already; you can at least learn what other people know or think about a topic that will help you later
Visit class websites daily or the amount of information you have to process will be overwhelming

and from Struggling College Student:

Dedicate 3 hours per week to every 1 credit hour you are taking (for example, study 36 hours per week if you are taking 12 credit hours), according to a poll of professors (seems excessive but studying some on weekends can help you make this quota)
Minimize or completely avoid television, video games, and hanging out with friends who don’t study much
Have fun but don’t overdo the socializing and partying

My sister’s advice (given 25 years ago) is still relevant. If you’ve got tips for soon-to-be or current college students, please share.

Permalink | 14 comments | Julie Rains's blog | Channel: Life Hacks

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My Love Affair with Industrial Shelving

Myscha Theriault — Fri, 16 May 2008 13:17:11 -0400

By Myscha Theriault

When it comes to industrial shelving, I’m a total groupie. Why? This stuff is everything a significant other should be. Read on for details.

First of all, it’s multifunctional.

Talk about furniture that’s seriously able to rock and roll with life’s little changes. Want some professional shelving in your gourmet kitchen? No problem.

Looking for a no fuss solution for your loft style spa bath? It’s got that covered too. Office storage module, garage organizers, dorm room entertainment center, food storage, laundry room furniture . . . This stuff can rock and roll wherever you need it to.

It’s super low maintenance.

Guys, are you with me? Sanding, dusting, refinishing and taking care not to leave water spots are all concerns that go out the window when industrial shelving becomes your furniture of choice. Bonus? It’s dirt cheap. Talk about designing on a dime.

Takes a licking and keeps on ticking.

The sets I’ve had over the years have seriously “done me right”. Move after move, drop after drop, and most recently through a pretty serious flood. (More on that in an upcoming post.) It still looks great, and can still transition from garage storage to kitchen shelving whenever I need it to. Gotta. Love. That.

If you’re looking for furniture you can flat pack, take anywhere, and use hard for years to come in various rooms throughout the house, this affordable resource from your nearest box store is not likely to let you down.

Permalink | 6 comments | Myscha Theriault's blog | Channel: Frugal Living

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Make Grocery Budgeting A Game, The Price Is Right Style

Jason White — Thu, 15 May 2008 18:40:33 -0400

By Jason White

Growing up, I stayed with my grandparents during the day on summer breaks from school. Our mid-mornings were usually spent casually watching The Price is Right. This was back in the days when Bob Barker was still hosting the show, and the "guess the price of the car game" always started off with a "1" in the ten-thousands column. My, how times have changed! My favorite part of the show was the Showcase Showdown, where contestants would bid an amount "closest to the actual retail price without going over" on a host of prizes. Maybe those Showcase Showdowns ingrained something in my frugal memory bank, because my family now enjoys a grocery budgeting game with similar rules.

**Grocery Shopping: Price is Right Style**

Today when my family visits the grocery store I carry along a pen and a sheet of paper (usually just the back of our grocery list). I used to perform this exercise in my head, but as my brain has grown older and calculators have become cheaper, I now rely on technology for accuracy. This would be a good time to remind you that under my frugal shopping rules one should never enter a store without a list. Even a small mental list of just the few items you need will suffice in a crunch. Without being armed with a list there are just too many opportunities to pick up unnecessary items and blow your food budget .

Rules of the Game

With our food budget firmly established ahead of time and our list of weekly staples properly spelled out, we embark on our weekly grocery shopping journey. I usually follow along behind the wife and kids equipped with my paper, pen and calculator. As the kids toss boxes of Pop-Tarts into the shopping cart I write down the price (rounding up to the nearest $0.50) and keep a running total working down the sheet of paper. It isn't necessary to write the item description, but for example purposes I've included it below:

$1.50 Pop-Tarts: $1.50
$2.00 Mac and Cheese: $3.50
$2.50 Strawberries: $6.00
$9.00 Laundry Detergent: $15.00

You get the idea. The estimated item price is listed first, followed by a description, and then the running total. Again, it isn't necessary to list the item price and description on your list - we simply keep up with the running total column.

Now, Time to Calculate and Submit Your Bid

By rounding up to the nearest $0.50 we are intentionally inflating the cost of our goods a bit to prevent a budget overrun, much in the same way The Price is Right contestants undervalue the estimated price of their Showcase Showdown prizes to avoid over-estimating their packaged deal. When the shopping cart is full, or your list is complete, grab your calculator and multiply the final total by your tax rate to estimate sales tax owed. Add this amount to your running total for grocery purchases. If this amount is less than your food budget you've done well. If not, return to the aisles to look for cheaper alternatives, or move that steak dinner to next week's menu schedule.

Permalink | 13 comments | Jason White's blog | Channel: Personal Finance, Budgeting, Shopping

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Welcome to Container City - How Shipping Containers Are Recycled into Green Dwellings

Xin Lu — Thu, 15 May 2008 02:54:25 -0400

By Xin Lu

At any port you can probably see hundreds to thousands of empty shipping containers just sitting around waiting to be loaded. In recent times these containers have not only transported goods across oceans but have also been transformed into energy efficient dwellings with some great design and ingenuity.

In the past decade many habitable container projects have been completed around the world. At fabprefab there is a selection of these projects for shipping container enthusiasts. The picture used here on this article comes from a funky development called Container City I in at Trinity Buoy Wharf in London, England. The Container City site explains that shipping containers can be linked together to create strong steel modules that can be used to create many different types of accomodations. This type of construction takes very little time to build and the cost is low because 80% of the materials used is recycled. The shipping containers can be painted with insulating paint and use energy efficient appliances. Additional earth-friendly features could include water harvesting, solar panels, and green roofs.

In America at least two shipping container complexes recently made the news. One is called the City Center Lofts in Salt Lake City, Utah. The plan is to erect a seven floor residential building that includes an art gallery. Another project is slated in Detroit and the plan is to create a 17 unit condominium project at a cost of 1.8 million dollars. The condos will range from 960 square feet to 1920 square feet and will be priced at $100000 to $190000 each. That might be a little expensive for Detroit since homes were selling for less than cars there .

I think it is awesome that people are creating new homes from recycled industrial products. However, another recent news report states that the United States is having a shortage of shipping containers since the weak dollar is pushing up the demand of exports from the United States. Perhaps the next commodity bubble is in shipping containers?

Permalink | 6 comments | Xin Lu's blog | Channel: Personal Finance, Frugal Living, Green Living, Lifestyle, Real Estate and Housing

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Self-sufficiency, self-reliance, and freedom

Philip Brewer — Wed, 14 May 2008 14:28:03 -0400

By Philip Brewer

Self-sufficiency is producing the actual stuff you use--your own food, your own clothes, etc. It's not a common lifestyle. Most people chose instead to follow the path of self-reliance. Rather than directly producing the things they use, they produce something they can sell for money, or else they work for someone who will pay them money, aiming to earn enough to buy what they use.

Actual self-sufficiency takes on nearly mythic significance in the United States, because so many iconic figures in our national history were self-sufficient:

Native Americans
Early settlers
The pioneers

The notion shows up in popular culture other places as well, as in the wonderful British TV series "The Good Life," (available in the US on DVD as Good Neighbors) about a couple ditching an affluent lifestyle in favor of being self-sufficient in their own little suburban plot.

The thing is, though, self-sufficiency turns out to be a hard way to live. It takes capital (in the form of land), it takes skills that most people don't have, and it takes lots of hard work. During the 1960s and 1970s there was a back-to-nature movement of people trying to be self-sufficient, often in the form of a commune (which is rather easier than trying to be self-sufficient at the level of the household or the individual). Some of those old communes are still around, but most people who tried self-sufficiency gave up pretty quickly.

The appeal of self-sufficiency never disappears, though. Just recently, as a response to environmental degradation and soaring prices for food and fuel, self-sufficiency is once again showing up, under names like urban (or suburban) homesteading. More and more people are turning their lawns into gardens, getting a few chickens (even a goat) and producing a large fraction of their own food.

As I said, though, it's a hard way to live. You can have a higher standard of living if you work for money and then buy the stuff you need--and not just a little higher; stuff that's mass produced by low-cost labor is incredibly cheap. For example, I've seen perfectly good wool sweaters at the store for less than the cost of the yarn to knit a nice sweater.

The whole structure of the economy is designed for people to work for wages and then buy what they need--and that design turns out to favor the wealthy. The poor and middle-class get a higher standard of living, and the rich get richer.

Sometimes, of course, that standard of living creeps up high enough that the household is no longer really even self-reliant. Depending on how you measure it, personal saving in the United States has been close to zero (or even negative) since 2005--and, since we know that a small number of wealthy people are saving plenty, that means that large numbers of poor and middle-class people have been spending down their savings or sinking into debt.

It's easy to make the case that our economy is structured specifically to tempt poor and middle-class folks to enjoy a higher standard of living than they can actually support. When they do, they not only make rich folks richer, they also trap themselves in the money economy. Even if you have the skills, the inclination, and the willingness to do the hard work, you can't move yourself toward self-sufficiency when you've got debts that have to be paid with money.

Once trapped in the money economy through debt, people end up stuck being little money-producing machines for the rich. It's not too extreme to call it wage slavery or debt peonage (albeit at a rather high standard of living). In any case, it is definitely not freedom.

You don't need to be self-sufficient to be free--it's good enough to be self-reliant, as long as you're careful with debt. In fact, unless you've got some capital already--such as family land--a period of self-reliance during which you live below your means and accumulate capital is probably a necessary step toward self-sufficiency.

Even then, there's some value to the tactics of self-sufficiency. Hobbies that produce something useful can often pay their own way, and are certainly better than hobbies that leave you seriously out-of-pocket. It's worth having a garden, even if you don't grow all your own food. It's worth knitting a sweater or sewing a dress, even if you don't make all your own clothes. It's worth learning how to fix a bicycle, even if you also own a car.

Think of it as strategic partial self-sufficiency. Think of it as a step on the road to freedom.

Permalink | 16 comments | Philip Brewer's blog | Channel: Personal Finance, Frugal Living, Career and Income

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How to be a High End Cheapskate

Myscha Theriault — Wed, 14 May 2008 09:49:57 -0400

By Myscha Theriault

Here at Wise Bread, we’re not just about saving money and reducing budgets. We’re also about providing ways to live a more luxurious lifestyle within a reduced set of financial parameters. In other words, we show you how to be a high end cheapskate. Want some ideas? Read on.

Decanters.

Don’t feel like justifying your brand choices to new acquaintances? Prefer the look of fine crystal or cut glass to bottle labels? Decanters are a great way to add class to your bar or entertaining area and make sure the brands of spirits you choose are nobody’s business but yours.

Heirloom and Estate Jewelry.

Whether it’s handed down, purchased at auction or picked up at pawn shops, previously owned jewelry is a great way to establish a nice collection for a significantly reduced price. Think pearls and studs for women, pocket watches and tie clips for men.

Maximize High End Gourmet Purchases.

The way I see it, there are two ways to get the biggest bang for your gourmet buck.

Stretch them as far as possible as an accent ingredient. This can be done with truffles, shaved specialty cheeses for pasta dinners, sliced steak salad to serve four people on one piece of meat, etc.
Combine one or two high end items as featured meal elements or a high end side / appetizer. Examples? One pound of shrimp can make a decadent dinner for two, or shrimp cocktail for several folks. While this isn't the cheapest meal you can make, it is WAY cheaper than eating out.

DIY.

Got some great skills? Architecture, carpentry, gourmet cooking, vehicle restoration, custom interior painting, landscaping, gift wrapping, gardening, flower arranging, crafting, furniture restoration, artistry, photography, sewing . . . you get the idea. A personal area of expertise can really bump up your lifestyle a few notches.

Bartering.

While swapping casseroles for homemade jellies is great (I do it myself.), consider stretching your parameters a bit. How about a custom interior paint job in exchange for a bathroom remodel minus the cost of supplies on each? A few quarts of gourmet hummus swapped for an hour of professional massage therapy? Refurnished serving buffet for a professionally painted family portrait? Using those DIY skills as a form of currency can help you get what you want without laying out cash.

Using Unexpected Budget Ingredients in a High End Manner.

Frozen spinach for a Mediterranean cheese log, boxed wine for marinades and mulling, basic dry goods for biscotti on the cheap, repurposing and refinishing thrift furniture, salvage and hardware materials for custom storage and DIY pot racks . . . lots of options are out there to implement the unexpected for a high end result.

The Classics.

Whether you pay closer to full price and own fewer clothing items or hunt for classic wardrobe items online and at thrift stores, the styles will be stable and the quality above par. Having fewer items to take care of that will stand the test of time is in my humble opinion, the way to go. You can also apply this strategy when power shopping for vehicles. Certain classic models (even used) hold their value better than others. An example? Volvo.

Explore Every Penny Pinching Method Available.

Particularly when they are methods that won’t necessarily show, like perfume or brand changes on basic items. Some other great resources and ideas?

Buying in bulk, whether generally, for the freezer, or with an assembly cooking strategy in mind, can be a great way to carve out extra cash.
Visit the Frugal Duchess. The Frugal Duchess blog has some great ideas for savings including multi purpose uses for your French coffee press that would make any gourmet tea lover proud.
Philip Brewer’s recent post. It’s all about healthy frugal eating and how some may find it challenging in this country.
Xin Lu’s recent articles on seven ways to get free shipping materials and how to make your own flavored water.

Got any more ideas for luxury level tightwaddery? Chime in and share the love!

Permalink | 14 comments | Myscha Theriault's blog | Channel: Frugal Living

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There are Cheaper Ways to Return to a Greener Earth

Linsey Knerl — Tue, 13 May 2008 23:46:32 -0400

By Linsey Knerl

The web is full of ways to live green, but have you ever thought about being Earth-friendly in your death? While it’s not always pleasant to think about, maybe we should. If you want to be sure that you have a full and ecologically responsible life, maybe “greener” burial products are for you.

The Green Burial Council, founded in 2005, has a unique perspective on death and burial services. In an attempt to reduce the “waste” that is caused by traditional American practices, it has created a host of sustainable deathcare options. Yes, I said “deathcare.” Whether you are looking to be buried or cremated, there are better choices, and many of them are far cheaper than the norm.

Before my look at the Green Burial Council, I was unaware of the dangers that come with the continuation of our current burial practices, which include:

Embalming – This traditional process uses fluids containing formaldehyde, which has the potential to seep into groundwater. While the EPA acknowledges its role as a possible carcinogen, the World Health Organization goes a step further, labeling it as dangerous.

Vaults – These large concrete “tombs” make up 1.6 million tons of reinforced concrete, which end up below ground. They are not required by law, but are often a basic requirement by traditional home funerals and burials.

Cremation – While it leaves far less behind to deal with, cremation has started to cause concern with the amount of fossil fuels required to perform the procedure.

As an increasing number of Baby Boomers make plans for their departure, this has never been a more relevant time for change. With the Council working to standardized requirements to become a “Conservation,” “Natural,” or “Hybrid” Burial Ground, there may be hope in our lifetime for more responsible practices.

It may take some adjusting to accept the Best Practices of the GBC, which include home funerals, dry ice preservation for open viewings, and bio-degradable paper shrouds. But if the cost of these uniquely old-fashioned methods is any less than what funeral homes currently require, I think people will become more open to it. For a complete list of green funeral providers, cemeteries, and products near you, see the Council’s approved list.

Want to see the most fabulously comprehensive piece on green funerals? This article at TreeHugger has everything you need to know about green funerals, how to make your wishes known, and where to begin the journey for planning out the end of your journey.

Permalink | Comments | Linsey Knerl's blog | Channel: Personal Finance, Frugal Living, Consumer Affairs, Green Living

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Is Social Security Just A Grand Ponzi Scheme?

Xin Lu — Tue, 13 May 2008 22:47:51 -0400

By Xin Lu

I received my Social Security statement this week and it was a useless piece of paper to me since I do not qualify for retirement benefits yet. I always hear critics of Social Security say that it is a government sanctioned Ponzi scheme, and today I did a little research into why this comparison is often made.

Ponzi scheme is named after Charles Ponzi, an Italian immigrant who promised investors 50% returns in 45 days on an investment of postal coupons. He raked in millions of dollars in investments in less than a year in 1920. In actuality he was paying the earlier investors with money he collected from later investors and did not invest the money at all. Eventually the scheme collapsed because Ponzi just could not find enough new suckers to pay for the ealier investors who wanted to cash out. Ponzi went to prison and after he was released he returned to Italy and became a top financial advisor to Mussolini.

The Social Security program does have a few similarities to a Ponzi scheme. The main point is that it is a system where the later contributors pay for the returns of earlier contributors and if the number of later contributors dwindle to a point where they cannot support the existing promised benefits then the system would collapse. Second, the money collected is not invested to produce more money so the system pretty much depends on new taxpayers. Finally, the earlier participants of Social Security do get a bigger return on their money. For example, the first Social Security beneficiary who received monthly checks was Ida May Fuller. She collected a total of $22,888.92 from the program and contributed only $24.75 from her paychecks. Of course, she was extremely lucky to live to 100, and her Social Security earnings amounted to an annualized return of 22% on her contributions over 36 years of retirement. I am sure when I get my checks I will not have such great returns.

So why is Social Security not a Ponzi scheme? Well, first of all it does not make wild claims about making money fast. It also does not claim to be investing your money so it is not actually fraudulent. It is also based on taxes so it is not a voluntary scheme like the original. Finally, when a person dies then the payout stops under Social Security so it is possible that some people who contribute never see a single penny returned. The Social Security Administration actually calls the program a "pay-as-you-go insurance system" and claims that it is sustainable as long as the population demographics of retirees and working people stay stable.

Regardless of the semantics, in the near future there will be many more retirees than working folks so the demographics shift will make Social Security pay out more than it takes in. According to the 2008 Social Security Administration report the program could cover 75 percent of scheduled benefits until 2082 after the current surplus exhausts in 2041. This means that young people like me probably cannot count on solely Social Security for our retirement. Just in case Social Security collapses, I think everyone should be putting at least the amount paid in Social Security taxes in an IRA or mutual fund for the sake of a better financed retirement.

Permalink | 35 comments | Xin Lu's blog | Channel: Personal Finance, Taxes

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Sometimes I wish I had beautiful long blonde hair and ample cleavage.

Paul Michael — Tue, 13 May 2008 00:01:38 -0400

By Paul Michael

Not on my body of course; that would be freakish. And if you’re visualizing it right now, I’m really sorry…especially if you’re eating. No, I’m basically reacting to several incidentover the past few weeks/months/years which have forced me to come to the following conclusion: getting deals seems to be a whole lot easier if you’re easier on the eye.

I’m no oil painting: shaved head; average features; I could certainly lose a few pounds. But I do have an English accent. An ace up my sleeve which has, on occasion, helped me sway a few people here and there. Not by much, but enough to get an additional 10% off or a freebie thrown into a purchase. It’s peanuts to what I’ve witnessed with my own four eyes (I wear glasses, often another setback) when a pretty lady uses her charms on the average guy. I’m sure I’ll hear cries of sexism, but this has nothing to do with the intelligence of the girls…rather, the lack of intelligence of the people sucking up to them.

I’ve chatted with girls at work who have escaped speeding tickets not once, but on three or four occasions. I have had two tickets from two violations. I put my hands on the wheel each time, used very polite language and was extremely courteous. It got me nowhere. But some of the girls at the office, and their friends, told me how easy it was for them to get away with no ticket at all – just bat your eyelids, hike up your cleavage and play ‘the little girl lost’ routine.

If there are any male police officers out there, I’d like to ask a question; what do you really think is going to happen when you let a sassy blonde get away without a ticket? Do you really think she’ll give you her phone number? Seriously, why let her break the law and let others pay for it?

Just the other day I saw three guys in Circuit City crowding around a pretty blonde who was looking at Blu-Ray players. I was annoyed because I couldn’t find anyone to help me find the DVD I wanted for my wife’s Mother’s Day present. But of course, I didn’t quite stand out in the same way as this part-time Playboy model did. In the end, I had to go to the in-store computer terminal and find the thing myself.

I have been in bars where the waiters have literally shouted past three rows of people to ask a scantily-clad blonde what she was drinking. We all look, shouting “Hey, what about us? Waiter! Over here?!”

You name the situation, I guarantee I’ve been shunned in favor of the beauty queen who graces the establishment with her presence. It’s almost like some girls expect special treatment. Indeed, a very cocky girl I know says that her looks have got her everything from free cab rides to free landscaping. And all because she’s a dead ringer for one of those “Girls Next Door.”

It’s not always blondes of course, pretty ladies in general seem to have an advantage over those of us with more down to earth looks. Some guys have the edge, too. I’ve often felt like the Hunchback Of Notre Dame when a 6ft chiseled guy with abs of steel has stood next to me at the bar and waved to the bar staff. The girls rush to his aid, the guys want to be his best bud. This may have something to do with The Halo Effect , a common term used in business. You can read more about it, but many people out there associate positive (or becoming) looks with other positive traits, like kindness or intelligence.

Why, as a society, do we feel the need to give an extra helping hand to people who clearly have already been given an advantage? Why do we suck up to the pretty people? What do we think we’ll gain by it? And what can folks like me, the ordinaries, do to compete with them? I’d love to hear your own stories on the matter. If you’re one of the blondes with ample cleavage for instance, how often have you noticed special treatment? Conversely, did you get the opposite treatment because of your looks? And if you’re more of a ‘blend in with the crowd’ person, how did you get one-up on the person blessed with a rather nice outer shell?

It’s strange to think that just the way we look can alter the kind of deals we can get. Online, it rarely makes a difference. I find most of my deals that way. But put me up against someone with the looks of Jessica Simpson and my entire negotiating skills pale in comparison. Fair? Hey, considering the way people react it seems natural to use what you’ve got. (And if I had it, you can bet I’d flaunt it.)

Permalink | 46 comments | Paul Michael's blog | Channel: Frugal Living, Consumer Affairs, Shopping

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Another Tuesday Freebie: Haagen-Dazs Scoop

Carrie Kirby — Mon, 12 May 2008 20:55:25 -0400

By Carrie Kirby

I didn't make it to a Cold Stone Creamery for my free Mother's Day cone, so my gluttonous ears perked up when I heard that Haagen-Dazs is giving away free scoops tomorrow, May 13. There are limitations, though: Only one flavor is free: the chain's new vanilla honey bee, and the free cones are only given between 4 p.m. and 8p.m. So much for taking advantage of my stay-at-home mom status and getting there at 10 a.m.

Just as well, in my case. I checked the store locator and the closest Haagen-Dazs to me is at O'Hare airport -- only 2 and a half miles away, but with today's gas prices, I'm much better off serving myself a scoop from my freezer, about 4 yards away from this computer. In fact, I think I'll jump the gun and do that right now.

As always, it's a good idea to call your local and make sure they're not a bunch of stingy-butts and are participating in the promotion.

And thanks to Money Saving Mom for the tip-off.

Permalink | Comments | Carrie Kirby's blog | Channel: Deals

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Get Your Free Chicken and Caffeine on May 15th

Linsey Knerl — Mon, 12 May 2008 12:27:10 -0400

By Linsey Knerl

This Thursday there will be two nation-wide promotions offering treats to customers of McDonalds and Dunkin’ Donuts. While I’m a fan of chicken and waffles, I’ve never done chicken and coffee. Here’s the skinny on some high-calorie munchies…

McDonalds – These guys have been touting their new Southern Style Chicken products in a big way this past couple of weeks. Offering both a Southern Style Chicken biscuit and a Southern Style Chicken Sandwich, they seem to have all their bases covered. They have also been handing out coupons like mad, putting them in Sunday coupon inserts and the shipping boxes of all my Amazon.com orders.

They are hoping to introduce the all-white meat sandwiches to the nation in the May 15th promotion, offering a free biscuit from 7 a.m. to 10:30 a.m. and a free sandwich from 10:30 a.m. until 7 p.m. with the purchase of any medium or large beverage. (My hubby says to go for the jumbo iced tea, which is very cheap, and not bad for a Southern Sweet Tea knock-off.)

Dunkin’ Donuts – (Sigh.) Why can’t there be one of these stores in my area. I love the coffee offered on grocer’s shelves, and would die to get my hands on the free iced coffees being given away on May 15th. From 10 a.m. until 10 p.m., the coffee guru will be handing out 16 oz. iced coffees anyway you like them (limit one per person per store.) Facebook users can RSVP to the event , which is perfect for letting your friends know which one of the 9 flavors you plan on trying: French Vanilla, Toasted Almond, Raspberry, Hazelnut, Coconut, Chocolate, Cinnamon, Caramel, and Blueberry) or create your own flavor by combining 2-3 flavors.

So go grab a chicken sandwich, wash it down with an iced coffee, and fast for supper. With 435 calories and 19 grams of fat for the sandwich alone, these fabulously free eats will be a special treat for our family. But I do love chicken…..

Permalink | 9 comments | Linsey Knerl's blog | Channel: Deals and Coupons, Deals, Food and Drink, Freebies

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This Post Really Suk-kuks: Examining Islamic Finance

Jabulani Leffall — Sun, 11 May 2008 18:04:23 -0400

By Jabulani Leffall

Before you read on, know that this one of those listen-to-me-now-believe-me-later on posts.

Enter the Sukuk: the interest-free loan, based on Muslim principals and before you laugh, understand this: Citigroup, Morgan Stanley, HSBC, Standard Chartered and others are getting into the Sukuk issuance business in force.

Moreover, while we grunt and grimace at the fact that it took 50 bucks to "fill-er up" or that 40 bucks only got us to three quarters of a tank or in some cases, only half a tank -- the sheer quantity of cash from petrodollars is creating a financial boom in the Middle East as well as Asian Tiger economies such as Malaysia and Indonesia -- all seats of Islam, the dominant religion among that region's populations.

Mohammed Mahmud Awan, a scholar at Malaysia-based International Center for Education in Islamic Finance, said recently in a speech that the mortgage crisis is "unthinkable" under Islamic principles regarding debt. Awan said that it was "time" for the Islamic banking industry to present solutions to the global economic community in the wake of the crisis.

Huh?

Well, Islamic finance assets are growing at an annual pace of 20% and are set to hit $2 trillion in 2010 from the current $900 billion, literally fuelled by us who create flood in the desert of petrodollars, which by extension folks, means the import -- forced through business conditions or voluntarily - of some of these principles and philosophies to western banking circles.

In the Gulf and Asia, Standard & Poor's estimates that 2 out of every 10 banking customers would without thinking about it, choose an Islamic loan package for housing and business financing over a conventional one even if it had a similar risk-return profile.

Yeah, Yeah, Yeah you say, "what does this have to do with me?"

Nothing much right now. However, there is a coorelation between the growth of Islamic finance and high oil prices. Where do you think they get their money? Date farming? Sand? Manufacturing? I think not.

And you should know that Oil-rich Middle Eastern and Central Asian sovereign wealth funds are large shareholders of many foundering Western banks who are in dire need of capital because of exposure to the interest-bearing and complex loan packages that created the subprime meltdown. This could mean that one day soon, some of these large shareholders will demand an entry into profitable and growing markets. Again enter the Sukuk.

Not withstanding events that are beyond our control, at present, the equation is simple -- albeit with many variables.

Oil Prices = High Gas Prices = Mega Petrodollars = Expansion X More Petrodollars + More Money in Islamic Banks = Growth of Islamic Finance + Stakes Acquired in Non-Islamic Banks+Islamic-Style Banks Having a Say in the Expansion of Western Banks which will one day offer yes: Islamic Sukuks.

Whew.

An "Interest-ing" History

Charging a vig on a loan (interest on credit) has its roots in the Roman Empire's coin-based economy that was backed by vast amounts of resources in the treasury. The concept of interest became a staple during the rise of mercantilism during the Italian and European renaissance. Merchant of Venice anyone?

And before any xenophobia sets in, it's important to note that speaking out against the concept of interest-based financing is not solely a Muslim thing. In fact, St. Thomas Aquinas of Catholic fame was said to have espoused that the charging of interest was morally wrong because it amounts to usury, i.e., charging for both the amount and the use of the amount. But the concept still took shape during the industrial revolution and has been trucking along ever since and remains a matter of life and debt for our country.

So now the equation is this: Our paper money, for their black gold, means we have to borrow more paper money from them to buy more black gold, while they use the proceeds of our black gold purchases to build their own infrastructure, capitalize their own banks, buy shares in our banks and the rest is history or our potential future at the very least.

Hence it's not inconceivable that some of us -- especially of the international traveler persuasion -- will be taking out interest-free loans sometime in the future and on a larger level this is a subset of the clash of civilizations. Credit isn't going anywhere mind you, as it goes so do we but the thing question is: Will we some day be at an economic disadvantage because of credit-tinged opulence when other white-hot economies are playing it straight up? Or is it straight up? Is the concept as it is with the sukuk, of renting your loan amount instead of essentially paying down a principal amount plus interest more viable?

One Islamic finance scholar, a Rice University Prof. Mahmoud El-Gamal ,has famously suggested that there has been no major test case for the sukuk yet to ensure that Shariah-compliant loans can work, or for that matter be deemed as anything other than a way to market to religious sensibilities.

In an August 2007 blog posting, he wrote:

"Unless and until we have a high-visibilty case of bankruptcy, we will not know with any certainty who owns what in the maze of SPVs that lawyers and structured financiers love to use. Until then, many will continue to line their pockets with legal, structuring, and advisory fees, as they congratulate themselves on "innovative Islamic products." What a shame!"

Given that, what are your thoughts on a world where you have to buy what you can buy with legal tender and not be able to get by on credit? Do we have a moral obligation to fix our financial system and change our attitudes about spending and consumption while recognizing the bubbling competition?

What do you think?

Interest or no interest?

What do you believe in?

Permalink | 20 comments | Jabulani Leffall's blog | Channel: Personal Finance, Consumer Affairs, Investment

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Free Bag of Yummy Corozonas Chips!

Xin Lu — Sat, 10 May 2008 22:23:56 -0400

By Xin Lu

A couple weeks ago I received a small sample of Corozonas Tortilla chips. I think I requested it a while ago and I totally forgot about it. They sent me two flavors, one was Baja Bean Dip and the other was Magarita Lime. I was pleasantly surprised because I really enjoyed the chips.

They were quite tasty and had very bold flavors. The Baja Bean Dip flavor was actually quite spicy. The chips also included whole oats so they looked quite interesting. The company claims that their tortilla and potato chips actually reduce cholesterol so that makes them quite different from other tortilla chips I have tried. More detailed nutrition information is available here .

Anyway, I am glad the company is offering everyone a chance to try this product for free with their coupon offer. To print the coupon you need the SmartSource coupon printer which you can dowload for free at SmartSource.com. After that is installed you can click the coupon link here . Each computer can print two coupons and each coupon is good for a bag of Corazonas chips up to a value of $3.29. On the Corazonas site you can find a store that carries the chips with their store locator .

Happy snacking!

Permalink | 2 comments | Xin Lu's blog | Channel: Personal Finance, Frugal Living, Deals and Coupons, Coupons, Food and Drink, Freebies

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Does living frugally hurt the economy?

Philip Brewer — Sat, 10 May 2008 15:43:33 -0400

By Philip Brewer

When I advocate for frugal living, people sometimes ask, "What if everybody lived like that? Wouldn't it hurt the economy?" My natural inclination toward frugal living may color my opinion, but I don't think so. I think mass frugality would be good for the economy.

It's a valid concern, rooted in the way recessions and depressions start. Some recessions are business-led, with businesses cutting back first and consumers following because their paychecks are smaller and they can see that their jobs are at risk. Others are consumer-led, with consumers cutting back first and businesses responding to falling sales with layoffs. Either one, of course, leads directly to the other, and there's no automatic mechanism to stop the downward cycle.

So, the question is: If everyone suddenly decided to be more frugal, would that look like a consumer-led recession, with falling sales leading to layoffs, and layoffs leading to cash-strapped consumers choosing to be even more frugal?

It's a question that's hard to answer. If everyone were a bit more frugal, yes there probably would be a bit less total economic activity. (Xin Lu lays out this case in her post from a few months ago, What if everyone suddenly became frugal.) I think, though, that the exact result depends a great deal on the economic situation at the moment the change takes place. It's kind of like hesitating before giving someone an aspirin: Won't it cause his temperature to fall? Well, if he's got a fever, yes it probably will. Otherwise, probably not. In much the same way, if the economy is overheated, then a shift to frugality will probably slow it down. If the economy is underperforming, I don't think a shift toward frugality will make a big difference--if everyone is already reduced to focusing on just the necessities, becoming more frugal isn't much of a change.

So, the downsides may be real, but I think they're small. On the other hand, if everyone is more frugal, the upsides are potentially huge. A lot of the harm in a recession comes from fear. The people who are unemployed have less money to spend, but even people with jobs start to cut back, simply because they're nervous. Frugal people are less vulnerable to this. They have less debt, more savings, and more room in the budget to handle a drop in income. They don't panic when their neighbor loses his job--because they don't need to. The result is that the frugal household is more stable. And a community of stable households is a more stable community.

Any change in consumer's tastes--deciding that they want less of anything, whether it's VHS tapes, camera film, or incandescent light bulbs--is hard on the businesses that produce those things. But it doesn't kick off a downward spiral, because there's a natural point of stability: the point where the consumers are buying whatever it is they now want. The shift to more frugal consumption patterns would be like a change in tastes, not like the beginning of a recession.

So, I feel comfortable advocating frugality. We may lose a bit of economic activity--but what we lose is worth losing. What we gain is more secure households and a more sustainable economy. It seems like a win to me.

Permalink | 18 comments | Philip Brewer's blog | Channel: Personal Finance, Frugal Living

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