I don't think this is claiming that credit cards are bad in themselves, but rather that the use of a credit card is frequently associated with unnecessary purchases and that one should think twice about buying these sorts of things.
So instead than calling some people "irresponsible", try to suggest rules of thumb (such as this one) that will help them intuitively make more responsible choices.
Hi all
I'm so old now :-) I remember when my old stuff was still new... I still have furniture from student days more than 30 years ago. Like the lady above says, it's still got concert stickers, and other cosmetic modifications made during particular "episodes", they all tell a story. I've never bought a new car, I'm still rolling iron (bought second-hand) from the 70s and 80s. It was good then, it's getting classic now, it fits me, spares are cheap. My two favourite motorbikes (both with my wife's portrait painted in classic aviation art style) are late 80s tech. My beloved was always relaxed about the kids scrawling on the walls as they grew up, - only our walls :-) , and she taught me to be as well. She was right. They're living memories of days now gone. We buy new furniture when something breaks... but mostly it will be used=new-to-us furniture, just seems sensible. In my observation, a man who always buys new stuff, won't / can't keep the same wife.
Oh come on... what if Oprah, lived on $150,000 a year and gave everything else away? THAT would not only make a massive difference but also set an example.
And Suze Orman... spends like $500,000 a year chartering private jets... what if she gave up private flying for a year and didn't buy any new clothing... to set an example. That would be remarkable and credible.
Guys... this is just an example of the elite trying to focus us "living with less" while they live with more. Don't you find the timing odd? The stock market is tanking while Obama is spending. Our savings are going down the drain while O's friend Oprah is preaching "doing with less." He wants to create socialism which requires taking from some to give to others. Don't you see the connection?
Man, we let ourselves get duped so easy. Wakeup America. The elite are the elite, republican or democrat. They have their self interests in mind, not yours. W was the oil man, Obama wants power ("change") and to create history... for himself, for his ego. He isn't in it for the regular guy. His wife made $250k/year as a hosptial administrator... so, why is healthcare so expensive? Think for yourself America.
I love WiseBread, but please... let's be honest and intelligent not accepting of those who make tons of money feeding off our insecurities... giving us "hope" that never materializes into real self-actualization, instead, just leads us to the need for more hope.
I'm sure some of this notion of cutting back is good, but I look at where it comes from and feel insulted. Hope you do too.
A Section 105 Health Reimbursement Arrangement (HRA) plan can help out as well. For one thing, it makes taking ANY health related item as a 100% deduction easy AND legal. Vitamins, tylenol, mouthwash, health club dues, running shoes, glasses, eye exams, plus all the 'usual' expenses (unreimbursed medical expenses) can all be deducted. Any accountant should be able to help determine if you're eligible for a 105 (works better for spouses) - my wife and I have a 105 for our business and it costs about $250 yr. to administer, but we saved almost $3200 in taxes. The 105 was created specifically to help the small business person. And, no, it's not like a Section 125 Flexible Spending Account (Cafeteria Plan)...there is no 'use it or lose it' with a 105.
Using a credit card for every purchase ultimately adds to the cost of the item because the store owner has to cover the added on percentage that our using the card costs them. I try to pay cash at the mom and pop stores so they get to keep more, and can stay in business.
How is business affected now?! They are hurting because people are not only paying their restaurant bill but the 15-29% credit card interest in that bill. And so dining out less.
The best thing for business is for customers to be solvent and a robust healthy economy without exorbitant fees to credit cards.
I've worked to cut back on shopping so much. We cleaned out our garage and closets to get rid of stuff we don't use or need. It made me realize how much I shopped for entertainment. I would go shopping just to get out of the house or for something fun to do. And I would bring stuff home that would just get packed into closets and forgotten.
Now when I'm bored I resist the urge to go shopping. I've started cooking and baking more instead. And that change has helped our budget tremendously.
I agree with Tyg that credit cards can be useful and offer you some protection. If the question was what can yo u live without for a week, then if things like entertainment or other items were included in a budget then going to a restaurant or meeting a friend for coffee once a week or wouldn't break someone's budget.
Oprah's challenge was to get people to simplify their lives and live more simply. Attainable goals. Over spending is a not a sustainable way of life for anyone.
I never have more than $10 or so in cash on me at any one time, and everything that I buy over a dollar or so goes on a credit card (I get cash back from the card, which is why I use it). At the end of the month the card gets paid off in full - every month, no exceptions (and I have been doing this for over 4 years now). If I can't afford something it doesn't go on the card. There is nothing wrong with using a credit card as part of your budgeting, you just have to be responsible and pay it off. I got almost $400 back last year from my credit card company - that's free money, and I would have had $0 back if I paid cash for everything. Using a credit card also gives me protection when I buy something, and allows me the option of a chargeback if a company screws me (like the time I paid for a 3-month pool membership and the facility closed without warning 2 weeks later....if I had paid cash I wouldn't have seen a penny back). Credit cards aren't the problem - irresponsible people are the problem.
Ok so if everyone does this, how will business be affected. If no restaurants have any patrons for a week, how many will go out of business and therefore have to lay off employees?
George W. Bush committed hate crimes of epic proportions and with the stench of terrorism (indicated in my blog).
George W. Bush did in fact commit innumerable hate crimes.
And I do solemnly swear by Almighty God that George W. Bush committed other hate crimes of epic proportions and with the stench of terrorism which I am not at liberty to mention.
Many people know what Bush did.
And many people will know what Bush did—even to the end of the world.
Bush was absolute evil.
Bush is now like a fugitive from justice.
Bush is a psychological prisoner.
Bush has a lot to worry about.
Bush can technically be prosecuted for hate crimes at any time.
In any case, Bush will go down in history in infamy.
Submitted by Andrew Yu-Jen Wang
B.S., Summa Cum Laude, 1996
Messiah College, Grantham, PA
Lower Merion High School, Ardmore, PA, 1993
“GEORGE W. BUSH IS THE WORST PRESIDENT IN U.S. HISTORY” BLOG OF ANDREW YU-JEN WANG
______________________
I am not sure where I had read it before, but anyway, it is a linguistically excellent statement, and it goes kind of like this: “If only it were possible to ban invention that bottled up memory so it never got stale and faded.” Oh wait—off the top of my head—I think the quotation came from my Lower Merion High School yearbook.
I have done this quite a few times with good results. The only thing to be aware of is that the soy flour has a noticeable taste that will cook off, but it takes a while. So, it might be noticeable in something like cookies, that bake for 8 minutes, but won't be noticeable in brownies, that bake for 30 minutes.
Haven't tried it in cakes. Cakes to me are more complicated and probably less forgiving of food science experiments :)
I find that most commercially prepared desserts are waaaaay too sweet. So sweet that they make my head spin and my pancreas go into overdrive. And, lest you think I'm some kind of health nut, I LOVE desserts - I just find many of them too sweet.
If you gradually reduce the amount of sugar you use, you will adjust to the lower sugar content and not feel deprived at all, and at the same time, your desserts will be much less 'junky' and won't be as likely to throw you into the sugar high/crash cycle. And, because sugar dissolves completely in liquid, the recipe doesn't care how much you use. I find I can cut the sugar by 1/2 to 2/3 and still like the taste. Start by cutting it by 1/4, adjust to that, then keep ramping it down until you don't like the taste any more. You have nothing to lose.
And ... you can use whole wheat pastry flour in place of regular white flour with no ill effects in things like cookies and brownies. I'm not sure about cakes - the flour might be too heavy, but I have taken 100% whole wheat brownies and cookies to parties and had nothing but raves over them. No one even knows that they are kind of good for you :)
Butter gets a bad rap. It's not that bad for you. It is expensive, but margarine is gross!
Peapod is a very good source. I have used them on and off for the last 10 years. hey do accept coupons, usually a few days after you give them to driver you get an email telling you of credit.
I am disabled and usually shop on my own but in winter I appreciate the service. You will love it when having a new baby.
The charge of 6.95 for orders above $100 and 9.95 under is not bad when you look at cost of gas and your time.
I found some Sunday School decorating materials at the Dollar Tree. I work at a small church who has no budget to decorate and I can do a couple of bulletin boards for under $10.00
Don't forget though, cooking is art - baking is science. As much as your grandma's soup is a pinch of this and a handful of that your grandma's brownies are exact measurements so that you get the right chemical combinations for fluffy cake and dense brownies. :)
* whole wheat pastry flour instead of flour (it tastes the same to me and has more fiber)
* skim milk instead of regular
* walnut oil for vegetable oil
* 1/3 to 1/2 less sugar than called for
* refuse to use recipes with too many calories
* applesauce, mashed banana, or babyfood fruit for some of the fat (sometimes).
Fat substitutions don't work well in chocolate chip cookies (except maybe oatmeal cookies with chocolate chips), but at least they can have some whole grains and nuts in them.
I'll sometimes add ground flax seed or wheat germ or wheat bran. I'll sometimes add shredded carrots or zucchini or chopped walnuts.
I can't bring myself to throw out egg yolks, so I don't do that one, but you can substitute 1 heaping tablespoon of soy flour and 1-2 tablespoons water for each egg.
It's true that margarine with hydrogenated fats are (probably?) worse than butter, but there are some margarines without hydrogenation that might be better. I go with butter and/or walnut oil.
Otherwise, I also keep a lookout for low-fat recipes that are yummy. My favorite one so far is Banana chocolate chip oatmeal cookies although I substitute walnuts for chocolate chips (even though I love chocolate chips).
I enjoy this post because restaurant desserts are one of those luxuries that we take advantage of too often and sacrifice dollars over. If you're too lazy to bake a cake, you don't deserve to eat it. It may be just a cake, but it should follow the same logic as anything else. If you're too lazy to work, you don't deserve the pay/reward.
Plus, baking is fun. And if you do it with a bunch of people, it's a great frugal way to entertain yourselves.
Oh, I do so love the foody posts. We use the apple sauce trick a fair amount, and often substitute other items for eggs altogether.
Regarding the comment about margarine, I believe there are some healthy alternatives out there. (In fact, a product rep for a brand new one just contacted me the other day.) Either way, it certainly works for reducing the cost overall.
I've been drinking a little more than a gallon of water a day for years. I don't try, I just like drinking it. Good water tastes good. Bad water tastes bad. Yes, I am a water snob. S-N-O-B. And darned proud of it. Go ahead, yell at me for paying for my water. I don't spend any more on my water than others spend on fluids that impact their health negatively.
Come Easter, (probably not Easter Sunday, but definitely the day after) I'll lift a pint O'Guinness in your honor, sir. In the meantime, cheers!
I have young kids (1 and 4), and I love my hand-me-down furniture right now because it's OK if it gets destroyed. Sure, I'm less than thrilled when my son colors the sofa cushions with a dry-erase marker...but they're so stained and faded anyway, I just flipped them over and called it a day.
When my kids get older, however -- and we've got our debt paid off (last payment is planned for Dec 1 2009!) -- I do plan to replace the furniture we've got. I'm not the most fashionable or stylish person in the world, and I do have some pieces I really love. But the furniture I have is all someone else's style...some of it is fussy and Victorian, others are modern and streamlined. They don't match each other and they don't match my lifestyle, so when I can afford to replace them, they're gone.
So I plan to keep some of the really precious pieces -- my grandmother's vintage side table where she kept her yarn, my queen bedframe that my parents bought me when I was sixteen -- and gradually replace the rest as I can afford it, with cash.
This post really made me think. I've already printed it, and I intend to keep it somewhere, like a drawer at work, where I will come across it often. It gave me peace to read it, and it would be nice if I could remember to keep working toward that "balance". Also, I think it's hard when you're trying to survive in the rat race to keep your values and goals in the forefront of your mind. That's sad because I think I'm happier and more peaceful when I'm living in a way that honors them.
I don't think this is claiming that credit cards are bad in themselves, but rather that the use of a credit card is frequently associated with unnecessary purchases and that one should think twice about buying these sorts of things.
So instead than calling some people "irresponsible", try to suggest rules of thumb (such as this one) that will help them intuitively make more responsible choices.
Hi all
I'm so old now :-) I remember when my old stuff was still new... I still have furniture from student days more than 30 years ago. Like the lady above says, it's still got concert stickers, and other cosmetic modifications made during particular "episodes", they all tell a story. I've never bought a new car, I'm still rolling iron (bought second-hand) from the 70s and 80s. It was good then, it's getting classic now, it fits me, spares are cheap. My two favourite motorbikes (both with my wife's portrait painted in classic aviation art style) are late 80s tech. My beloved was always relaxed about the kids scrawling on the walls as they grew up, - only our walls :-) , and she taught me to be as well. She was right. They're living memories of days now gone. We buy new furniture when something breaks... but mostly it will be used=new-to-us furniture, just seems sensible. In my observation, a man who always buys new stuff, won't / can't keep the same wife.
Oh come on... what if Oprah, lived on $150,000 a year and gave everything else away? THAT would not only make a massive difference but also set an example.
And Suze Orman... spends like $500,000 a year chartering private jets... what if she gave up private flying for a year and didn't buy any new clothing... to set an example. That would be remarkable and credible.
Guys... this is just an example of the elite trying to focus us "living with less" while they live with more. Don't you find the timing odd? The stock market is tanking while Obama is spending. Our savings are going down the drain while O's friend Oprah is preaching "doing with less." He wants to create socialism which requires taking from some to give to others. Don't you see the connection?
Man, we let ourselves get duped so easy. Wakeup America. The elite are the elite, republican or democrat. They have their self interests in mind, not yours. W was the oil man, Obama wants power ("change") and to create history... for himself, for his ego. He isn't in it for the regular guy. His wife made $250k/year as a hosptial administrator... so, why is healthcare so expensive? Think for yourself America.
I love WiseBread, but please... let's be honest and intelligent not accepting of those who make tons of money feeding off our insecurities... giving us "hope" that never materializes into real self-actualization, instead, just leads us to the need for more hope.
I'm sure some of this notion of cutting back is good, but I look at where it comes from and feel insulted. Hope you do too.
A Section 105 Health Reimbursement Arrangement (HRA) plan can help out as well. For one thing, it makes taking ANY health related item as a 100% deduction easy AND legal. Vitamins, tylenol, mouthwash, health club dues, running shoes, glasses, eye exams, plus all the 'usual' expenses (unreimbursed medical expenses) can all be deducted. Any accountant should be able to help determine if you're eligible for a 105 (works better for spouses) - my wife and I have a 105 for our business and it costs about $250 yr. to administer, but we saved almost $3200 in taxes. The 105 was created specifically to help the small business person. And, no, it's not like a Section 125 Flexible Spending Account (Cafeteria Plan)...there is no 'use it or lose it' with a 105.
Oh, and the other way to pose the question, is what do we really need? Probably a lot less than we feel we can't live without.
Using a credit card for every purchase ultimately adds to the cost of the item because the store owner has to cover the added on percentage that our using the card costs them. I try to pay cash at the mom and pop stores so they get to keep more, and can stay in business.
How is business affected now?! They are hurting because people are not only paying their restaurant bill but the 15-29% credit card interest in that bill. And so dining out less.
The best thing for business is for customers to be solvent and a robust healthy economy without exorbitant fees to credit cards.
Oh, and I'm a restaurateur :)
I've worked to cut back on shopping so much. We cleaned out our garage and closets to get rid of stuff we don't use or need. It made me realize how much I shopped for entertainment. I would go shopping just to get out of the house or for something fun to do. And I would bring stuff home that would just get packed into closets and forgotten.
Now when I'm bored I resist the urge to go shopping. I've started cooking and baking more instead. And that change has helped our budget tremendously.
I agree with Tyg that credit cards can be useful and offer you some protection. If the question was what can yo u live without for a week, then if things like entertainment or other items were included in a budget then going to a restaurant or meeting a friend for coffee once a week or wouldn't break someone's budget.
Oprah's challenge was to get people to simplify their lives and live more simply. Attainable goals. Over spending is a not a sustainable way of life for anyone.
I never have more than $10 or so in cash on me at any one time, and everything that I buy over a dollar or so goes on a credit card (I get cash back from the card, which is why I use it). At the end of the month the card gets paid off in full - every month, no exceptions (and I have been doing this for over 4 years now). If I can't afford something it doesn't go on the card. There is nothing wrong with using a credit card as part of your budgeting, you just have to be responsible and pay it off. I got almost $400 back last year from my credit card company - that's free money, and I would have had $0 back if I paid cash for everything. Using a credit card also gives me protection when I buy something, and allows me the option of a chargeback if a company screws me (like the time I paid for a 3-month pool membership and the facility closed without warning 2 weeks later....if I had paid cash I wouldn't have seen a penny back). Credit cards aren't the problem - irresponsible people are the problem.
Ok so if everyone does this, how will business be affected. If no restaurants have any patrons for a week, how many will go out of business and therefore have to lay off employees?
Speaking of George W. Bush:
George W. Bush committed hate crimes of epic proportions and with the stench of terrorism (indicated in my blog).
George W. Bush did in fact commit innumerable hate crimes.
And I do solemnly swear by Almighty God that George W. Bush committed other hate crimes of epic proportions and with the stench of terrorism which I am not at liberty to mention.
Many people know what Bush did.
And many people will know what Bush did—even to the end of the world.
Bush was absolute evil.
Bush is now like a fugitive from justice.
Bush is a psychological prisoner.
Bush has a lot to worry about.
Bush can technically be prosecuted for hate crimes at any time.
In any case, Bush will go down in history in infamy.
Submitted by Andrew Yu-Jen Wang
B.S., Summa Cum Laude, 1996
Messiah College, Grantham, PA
Lower Merion High School, Ardmore, PA, 1993
“GEORGE W. BUSH IS THE WORST PRESIDENT IN U.S. HISTORY” BLOG OF ANDREW YU-JEN WANG
______________________
I am not sure where I had read it before, but anyway, it is a linguistically excellent statement, and it goes kind of like this: “If only it were possible to ban invention that bottled up memory so it never got stale and faded.” Oh wait—off the top of my head—I think the quotation came from my Lower Merion High School yearbook.
I have done this quite a few times with good results. The only thing to be aware of is that the soy flour has a noticeable taste that will cook off, but it takes a while. So, it might be noticeable in something like cookies, that bake for 8 minutes, but won't be noticeable in brownies, that bake for 30 minutes.
Haven't tried it in cakes. Cakes to me are more complicated and probably less forgiving of food science experiments :)
I find that most commercially prepared desserts are waaaaay too sweet. So sweet that they make my head spin and my pancreas go into overdrive. And, lest you think I'm some kind of health nut, I LOVE desserts - I just find many of them too sweet.
If you gradually reduce the amount of sugar you use, you will adjust to the lower sugar content and not feel deprived at all, and at the same time, your desserts will be much less 'junky' and won't be as likely to throw you into the sugar high/crash cycle. And, because sugar dissolves completely in liquid, the recipe doesn't care how much you use. I find I can cut the sugar by 1/2 to 2/3 and still like the taste. Start by cutting it by 1/4, adjust to that, then keep ramping it down until you don't like the taste any more. You have nothing to lose.
And ... you can use whole wheat pastry flour in place of regular white flour with no ill effects in things like cookies and brownies. I'm not sure about cakes - the flour might be too heavy, but I have taken 100% whole wheat brownies and cookies to parties and had nothing but raves over them. No one even knows that they are kind of good for you :)
Butter gets a bad rap. It's not that bad for you. It is expensive, but margarine is gross!
Peapod is a very good source. I have used them on and off for the last 10 years. hey do accept coupons, usually a few days after you give them to driver you get an email telling you of credit.
I am disabled and usually shop on my own but in winter I appreciate the service. You will love it when having a new baby.
The charge of 6.95 for orders above $100 and 9.95 under is not bad when you look at cost of gas and your time.
I found some Sunday School decorating materials at the Dollar Tree. I work at a small church who has no budget to decorate and I can do a couple of bulletin boards for under $10.00
If you're TV is connected to cable (time warner, charter, DISH, etc) YOU DO NOT NEED A CONVERTER BOX
Don't forget though, cooking is art - baking is science. As much as your grandma's soup is a pinch of this and a handful of that your grandma's brownies are exact measurements so that you get the right chemical combinations for fluffy cake and dense brownies. :)
My substitutions are:
* whole wheat pastry flour instead of flour (it tastes the same to me and has more fiber)
* skim milk instead of regular
* walnut oil for vegetable oil
* 1/3 to 1/2 less sugar than called for
* refuse to use recipes with too many calories
* applesauce, mashed banana, or babyfood fruit for some of the fat (sometimes).
Fat substitutions don't work well in chocolate chip cookies (except maybe oatmeal cookies with chocolate chips), but at least they can have some whole grains and nuts in them.
I'll sometimes add ground flax seed or wheat germ or wheat bran. I'll sometimes add shredded carrots or zucchini or chopped walnuts.
I can't bring myself to throw out egg yolks, so I don't do that one, but you can substitute 1 heaping tablespoon of soy flour and 1-2 tablespoons water for each egg.
It's true that margarine with hydrogenated fats are (probably?) worse than butter, but there are some margarines without hydrogenation that might be better. I go with butter and/or walnut oil.
Otherwise, I also keep a lookout for low-fat recipes that are yummy. My favorite one so far is Banana chocolate chip oatmeal cookies although I substitute walnuts for chocolate chips (even though I love chocolate chips).
I enjoy this post because restaurant desserts are one of those luxuries that we take advantage of too often and sacrifice dollars over. If you're too lazy to bake a cake, you don't deserve to eat it. It may be just a cake, but it should follow the same logic as anything else. If you're too lazy to work, you don't deserve the pay/reward.
Plus, baking is fun. And if you do it with a bunch of people, it's a great frugal way to entertain yourselves.
Oh, I do so love the foody posts. We use the apple sauce trick a fair amount, and often substitute other items for eggs altogether.
Regarding the comment about margarine, I believe there are some healthy alternatives out there. (In fact, a product rep for a brand new one just contacted me the other day.) Either way, it certainly works for reducing the cost overall.
Thanks Sarah, for putting this together.
I've been drinking a little more than a gallon of water a day for years. I don't try, I just like drinking it. Good water tastes good. Bad water tastes bad. Yes, I am a water snob. S-N-O-B. And darned proud of it. Go ahead, yell at me for paying for my water. I don't spend any more on my water than others spend on fluids that impact their health negatively.
Come Easter, (probably not Easter Sunday, but definitely the day after) I'll lift a pint O'Guinness in your honor, sir. In the meantime, cheers!
I have young kids (1 and 4), and I love my hand-me-down furniture right now because it's OK if it gets destroyed. Sure, I'm less than thrilled when my son colors the sofa cushions with a dry-erase marker...but they're so stained and faded anyway, I just flipped them over and called it a day.
When my kids get older, however -- and we've got our debt paid off (last payment is planned for Dec 1 2009!) -- I do plan to replace the furniture we've got. I'm not the most fashionable or stylish person in the world, and I do have some pieces I really love. But the furniture I have is all someone else's style...some of it is fussy and Victorian, others are modern and streamlined. They don't match each other and they don't match my lifestyle, so when I can afford to replace them, they're gone.
So I plan to keep some of the really precious pieces -- my grandmother's vintage side table where she kept her yarn, my queen bedframe that my parents bought me when I was sixteen -- and gradually replace the rest as I can afford it, with cash.
Are you kidding? You do know that all "margarine is better than butter" research is decades old, and all new research shows just the opposite?
Besides, Margarine produces an inferior flavour in baked goods than butter does.
This post really made me think. I've already printed it, and I intend to keep it somewhere, like a drawer at work, where I will come across it often. It gave me peace to read it, and it would be nice if I could remember to keep working toward that "balance". Also, I think it's hard when you're trying to survive in the rat race to keep your values and goals in the forefront of your mind. That's sad because I think I'm happier and more peaceful when I'm living in a way that honors them.