Money Tips Network

Not too long ago, I received a really good email from a reader, “Jan,” who asked some pointed questions about frugality. Here’s that email, in part:

Your story of how you and your wife dug out of debt and started building toward a financially independent lifestyle is a great one. You guys deserve applause for that and I’m sure your openness in sharing it has inspired a lot of people.

My only question is why you guys are so hung up on frugality. You must both have organized and creative minds to have escaped from debt so quickly and built a strong business. Your minds are probably better spent on earning a lot more money than on finding new ways to save a nickel.

I see the point in being frugal when escaping debt, but when the world is your oyster, isn’t it better to strive to maximize your time? The more time you have, the more activities you can engage in to earn a lot of money.

If your insurance company is reluctant to pay your claim (imagine that!), there are steps you can take to recover your losses. Photo: Andrew Steinmetz

You’re sitting in your favorite chair when you hear the sound of screeching tires, followed by breaking glass and crunching metal.

Before you even have a chance to get up and see what’s happening, a 1977 Cadillac Coupe Deville crashes through your living room wall, knocking you from your chair and breaking your right arm and left leg.

This article is by Suba Iyer, who currently writes for FiveCentNickel.com.

In 2009, I was all excited to start looking for a house to buy. I had been working in a well-paying job for almost five years at that point and I figured I shouldn’t be throwing money down the drain renting. Well, reality came crashing down when I finally looked at my savings. It wasn’t even enough to be a good emergency fund, let alone a down payment. In 2010, I set out to fix my finances. Month after month, I set up and revised my budget. I failed, month after month. I had the perfect budget and it should have worked. But after six months of this, I still was not saving any money. I had so many excuses for not making it work, too: If I were paid a little bit more, of course, it would be easy; I couldn’t have a life being constrained with a budget, etc.

Bad credit? No problem — if you can handle the lender’s terms. Photo: Ricardo Diaz

Getting the best price on a car is never an enjoyable experience, and getting a loan when you have bad credit can make this experience even harder to swallow. If your credit score is less than ideal, you’ll probably find yourself locked out of certain deals common for those with good credit, like very low interest rates and large loans with no money down.

I’ve recently added following inexpensive, budget friendly tools to my DIY arsenal.  They’re great for projects around the house and basic woodworking.  They are inexpensive – but not cheap – and they help me get the job done.

Photo: PhotoSteve101

Mindset plays a much bigger role in reaching our financial dreams than most of us realize. The good news is, you can work on your mindset without spending a dime.

Today’s post touches on a timeless book, nearly 100 years old, with some financial advice garnered from the greatest financial minds who ever lived. And while there have been thousands of “financial gurus” over the years, who better to study and learn from than some of the wealthiest people in history?

The Book

Andrew Carnegie (1835-1919) was one of the wealthiest businessmen of his day. His fortune would today be valued at approximately $75 billion, according to Wikipedia, and his story is a tale of rags to riches.

Link for teaser title: 

http://www.wisebread.com/bestdeals/today

JCPenney Great Big Christmas Sale: Up to 80% off, Crock-Pot Sale: Up to 70% off, RadioShack: $25 off $75 w/ code...

What’s inside? Here are the questions answered in today’s reader mailbag, boiled down to five word summaries. Click on the number to jump straight down to the question.
1. Student loan repayment strategy
2. Unemployment question
3. Home as investment
4. Buying long-term Christmas lights
5. Great goal advice
6. Amazon Rewards card tip
7. Stain remover
8. Saving money on children’s activities
9. Store chains vary by location

Credit card sign-up bonuses can be a good deal — but only if you’re careful. Photo: Sean MacEntee

Unless you’ve opted out of junk mail or targeted offers altogether, you’ve probably gotten at least a handful of credit card bonus offers in the mail. Most of them read something like this:

“Spend $500 on your card within 90 days and earn $200 in cash back.”

“Spend $3,000 on your credit card within three months of account opening and earn 50,000 airline miles!”

“Act now for up to nine free nights at participating hotels worldwide!”

Most people take a quick glance at these offers and chuck them into the recycling bin. Meanwhile, others are intrigued and choose to learn more. But what do they find out?