SavvySugar

Savvy Read: In Cheap We Trust

SavvySugar — Sun, 20 Sep 2009 04:30:30 -0700

You can never have too many books on your reading list, and this suggestion might bring some variety to those you've already cracked open. Former reporter for Reuters and Newsday Lauren Weber just published her book In Cheap We Trust: The Story of a Misunderstood American Virtue, which focuses on the evolution of thrift, from the Puritans to the freegans. She keeps the text fresh by including personal anecdotes - she describes her economist father as "compulsively cheap" and admits that once he tried to ration toilet paper.

Lauren chatted with The New York Times about how she embraces the word cheap because living within her means has allowed her the freedom to never stay in a job that she didn't love. That's pretty powerful. The author is a pro at budget traveling and swears by public transportation and street food while she's on a trip.

I like that Lauren speaks from experience and keeps her topic from seeming stale by including her own stories. In Cheap We Trust is on my list as the next book to get me through my commute.

99 Cents Only Store Weddings Cost $0.99 On 9/09/09

SavvySugar — Thu, 10 Sep 2009 06:30:54 -0700

Novelty dates are always popular for people getting hitched. The date 7/07/07 was especially hot because it was a Saturday, but yesterday got its fair share of nuptial attention thanks in part to the 99 Cents Only Store. In honor of 9/09/09, The 99 Cents Only Store chain hosted weddings for nine couples at its Sunset Boulevard branch.

The newlyweds paid $0.99 at the register and were then presented with $99 and 99 cents in cash, before being taken to an undisclosed "famous romantic Los Angeles" location. Congrats to the happy couples!

To see more wedding festivities, just read more.

View 16 Photos ›

Has Your City Cut Back on Credit Card Spending?

SavvySugar — Tue, 14 Jul 2009 06:30:21 -0700

Spending less is the quickest way to boost your savings account, and some places in the US have shown a true change in habits since last year. In fact, the U.S. personal income savings rate increased to 6.9 percent from 0 percent the year before. That's good news for personal finances, and Forbes sought out to find the thriftiest cities in the country.

First, it used data from Equifax to determine the total credit card debt in each of the 50 largest metropolitan areas and calculated the average debt per household in each metro area. Then, it divided each metro's average debt per household by May 2009 median household income to determine the average percent of household income owed to credit card companies. To see the 10 cities where spenders have cut back from using credit cards the most, read more.

Chicago, IL: Average credit card debt per household: $7,336.52; percent of income owed to credit card companies: 12.48 percent.
San Francisco, CA: Average credit card debt per household: $9,212.31; percent of income owed to credit card companies: 12.47 percent.
Seattle, WA: Average credit card debt per household: $8,749.44; percent of income owed to credit card companies: 12.26 percent.
Baltimore, MD: Average credit card debt per household: $7609.76; percent of income owed to credit card companies: 12.19 percent.
Philadelphia, PA: Average credit card debt per household: $7,103.60; percent of income owed to credit card companies: 12.16 percent.
Kansas City, MO: Average credit card debt per household: $6,717.87; percent of income owed to credit card companies: 12.07 percent.
Boston, MA: Average credit card debt per household: $5,961.29; percent of income owed to credit card companies: 11.75 percent.
Nashville, TN: Average credit card debt per household: $7,870.53; percent of income owed to credit card companies: 11.73 percent.
San Jose, CA: Average credit card debt per household: $9,424.76; percent of income owed to credit card companies: 11.46 percent.
Washington, D.C.: Average credit card debt per household: $9,546.88; percent of income owed to credit card companies: 11.43 percent.

Brilliant or Baffling: Frugal-Living Parties

SavvySugar — Mon, 11 May 2009 06:30:03 -0700

Entertaining can be pricey, so Chicago's Daily Herald encourages you to throw a frugal-living party the next time you want to open your home. It suggests using tissue paper you've saved from previous holidays and shaping it into "giant flowers that can be suspended from the ceiling" instead of buying balloons, and advises to make clean up part of the party by mixing homemade cleaners.

Other ideas to consider: share money saving tips, exchange budget recipes, and eat from reusable dishes instead of disposable ones. What do you think of this idea, is it brilliant or baffling?

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Woman Tries to Eat Healthy on $1 a Day

SavvySugar — Mon, 02 Mar 2009 04:30:25 -0800

A common excuse for hitting up the drive through is that it's cheaper than healthier fare. Rebecca Currie of North Carolina set out to disprove that eating poorly is less expensive than eating healthy and has been living on food that costs just $1 a day. She explained, "It's been a source of frustration for me for a long time that people say eating poorly is cheaper than eating well," and took on this extreme-budget challenge to help her friends learn how to cook nutritiously on less money.

Currie says the first week of her one-month experiment was the hardest, and she's been tracking her progress on her blog. In reviewing some of her recent meals, it looks like she's been filling up on things like homemade chicken noodle soup, inexpensive grains like millet, steel cut oats, and eggs.

Her point isn't to encourage others to limit their food budgets to just $1 a day, but to prove that eating nutritiously on a strict budget is possible. She said, "It's about looking at what you've got and thinking about what you want. If I can do this for $1, think about what I can do for $5 or $10." By planning your meals before grocery shopping, you'll have better success buying everything you need to make full meals while staying on a track with your spending. Have you tried figuring out how much your food costs per day?

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Cheapest Family in America Tells Its Secrets

SavvySugar — Fri, 19 Dec 2008 09:30:37 -0800

"Economides" may sound like a fictional last name in a book teaching kids about money, but it's in fact the fortuitous surname of the so-called "cheapest family in America." The Economides family, composed of parents Steve and Annette and their five kids, live in Arizona debt-free and on an annual income of about $44,000. Five of the seven family members were featured on a Today show segment yesterday that covered how the family handles Christmas spending, and spending in general. Find out more about this frugal family when you read more.

The family doesn't use credit cards, paid off their first home in nine years when they were bringing in $33,000 a year, and their second home is almost paid off, too. Annette calls herself "the Warren Buffett of groceries," the two daughters say they buy brand name jeans but never pay more than $8 a pair, and one of the girls recently paid cash she saved for a used truck. The Economides do their Christmas shopping in thrift stores and explains that many Americans think things must be new for Christmas, as if new is equal to love.

They are now teaching others about being frugal and have a book called America's Cheapest Family. The Today Show host said that these ideas aren't new and that our grandparents used to do them, but they are new to us. The concept of living within or below our means is definitely not original, but kudos to this family of seven for doing it so successfully.

Brilliant or Baffling: Baking Cookies in Car to Save Dough

SavvySugar — Wed, 13 Aug 2008 14:00:05 -0700

US News informs us there's a cookie baking technique out there that may save the baker some dough. As long as the temperature is at least 95 degrees outside the car, cookies will bake on your car's dashboard in two and half hours.

They say this is one time your car can actually save you money: You save on utilities by avoiding the oven and the counteractive air-conditioning. What do you think of this alternative baking and saving idea?

Source

Guess Who? Always Been Frugal

SavvySugar — Sun, 01 Jun 2008 11:15:42 -0700

“I’m frugal. I’ve always been this way. When I was young, my mom would give me my allowance, and I’d peel off a little each week and have some to spare.”

Make Gourmet-Tasting Meals From the 99 Cent Store

YumSugar — Wed, 26 Mar 2008 08:13:31 -0700

With the economy in a bit of a downturn, eating like a gourmet foodie can seem a bit extravagant. Cooking a three-course meal for your entire family while on a budget can seem downright difficult. Yet Christiane Jory, author of The 99 Cent Only Stores Cookbook, believes you can do it easily by shopping at dollar stores. And before you start rolling your eyes - I know you're doing it because I did - I should mention that the book actually contains recipes for things that sound delicious. I mean, what about gruyere beignets, salmon souffle and Pinot Noir poached pear tarts doesn't sound good?

I first heard about this book on NPR - you can listen to the whole story online - and thought it was absolutely fascinating. While I don't think I could eat this way completely - sorry folks, I've become a fresh fruit and veggie snob - I do think it's fantastic to show people how to create good tasting food on the cheap. And besides, with the economy the way it is, this book might end up as a must-have for all of us!

So what about you? Do you think you could make gourmet-tasting meals from the 99 cent store?

Your Two Cents: How Do You Feel About "Frugal"?

SavvySugar — Fri, 04 Jan 2008 15:02:02 -0800

There are certain words that completely get under my skin. Sometimes I'm annoyed by the way a word sounds, and sometimes it's the meaning that causes me to turn against the word. Frugal is a two-time offender for me; I feel the same way about frugal that many of you feel about moist. It's a word with good intentions - it really just means economical- but its connotations seem cheap to me.

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