Money Tips Network

Here's an email I recently received from a reader:

I have been a long-time renter, but now married with 2 small kids I’m considering buying my first home. I’ve done some research and talked to some banks, but the thing that’s making me hesitate is that I’m worried that houses are overpriced because of the current low interest rates.

The way I’ve approached the home buying process, and the way I think most people do, is to see what kind of mortgage I qualify for, and then use that to figure out what kind of house I can buy. Currently I qualify for about a $500K mortgage at a 4.25% interest rate.  However, if the rate goes up to 6.25%, which is still very low by historical standards, I’d only qualify for about a $400K mortgage, which would mean that the prices of the houses that I could buy would decrease by 20%.

I was stunned by this article in the Washington Examiner that states that Americans waste 133 billion pounds of food each year. That adds up to about 400 pounds of food wasted per American man, woman, and child each year.

If our family met that American average, the five of us would waste a ton of food this year. No exaggeration, either – we’d waste 2,000 pounds of food.

That is a lot of food simply going to waste. Not only does that have a huge environmental and social impact, it has a serious financial impact. Food that you toss instead of eating directly results in money falling out of your wallet because almost all of the food you order or bring into your home has a cost.

This reader story comes from JenB. Some reader stories contain general advice; others are examples of how a GRS reader achieved financial success or failure. These stories feature folks with all levels of financial maturity and income. Want to submit your own reader story? Here’s how.

I thought I had it all figured out, but the middle-of-the-night panic attacks have started again as a result of a little piece of mail I received this week. You see, I’d finally made the scary decision to quit my job and stay home with our first baby (for at least a year) when – BOOM! – our annual escrow account disclosure statement arrived in the mail.

I’m not a big fan of sweet stuff. I’ve always been the type of person that prefers savory flavors, and my favorite thing in that regard is cheese. I love trying new kinds of cheeses.

Every once in a while, I’ll splurge and buy a chunk of cheese that I’ve never tried before. Extra mature Wensleydale? Let’s try it! Fresh Pantysgawn? What’s that going to taste like? Crottin de Chavignol?

These little chunks of imported cheese can be really expensive. Price tags of $20 a pound are pretty common when you’re splurging on imported cheese. Higher price tags exist, too.

Here’s the thing, though: cheese is a fleeting luxury. It’s a splurge that you consume fairly quickly and then it’s completely gone. The same thing is true of a $5 coffee or a chocolate bar or a pint of quality ice cream.

I don’t need these things for nutrition’s sake. I simply want them as a splurge, no different than a splurge on an entertainment item.

Earning rewards from your credit cards is a lot like earning interest on your investments. Cardholders should look for the highest returns possible considering the amount they spend and the type of merchants they frequent. They then need to balance these rewards against any fees assessed on their cards. The Blue Cash Preferred® Card from American Express offers as much as 6% cash back rewards for your spending at a time when many reward cards only offer 1%-2% cash back.

Preferred’s Cash Back Percentages   

Like many credit cards, customers earn 1% cash back on purchases from most retailers, but it is the bonus categories that make this card stand out.

3% cash back is earned at gas stations and select department stores.

Two years ago, Wells Fargo changed its customer agreement, taking away the rights of customers to resolve disputes with the bank through the typical legal process afforded citizens of the United States. Current Wells Fargo customers tacitly or knowingly agreed to sign away these rights in favor of an arbitration system that favors wealthy corporations.

Although I wrote about the change on Consumerism Commentary, changes like these go largely unnoticed and don’t get a lot of attention in the media, even from consumer-focused outlets.

I'm always looking for ways to feed my family for less. It seems like no matter how much meal planning I do, I'm still running up a grocery bill that's higher than I'd like to admit. Thankfully, the Internet is full of great ideas for those of us looking to lower our food costs. Even better? We don't have to sacrifice flavor or portion sizes to see the savings! (See also: What to Eat Every Day: A Month of Frugal Meals)

Here are 10 budget-friendly meals you should be making.

This article is by staff writer April Dykman.

It’s almost spring, you guys. I don’t know about the weather in your neck of the woods, but that’s a welcome thought where I’m at, and I live in Texas!

(Northerners, feel free to make fun of my idea of a cold winter. I don’t care. I did not sign up for anything colder than highs of 50 degrees.)

At any rate, I’ve been on a cleaning and organizing kick, a bit of early spring cleaning, if you will. I don’t know what’s gotten into me. Maybe it’s that the days are getting a little longer and that we’ve finally had some consistent sunshine around here. And those might be the reasons we spring clean in the first place, according to TLC’s How Stuff Works:

We're all looking for ways to make our money grow, to build the family fortune, and secure our financial future.

But creating that empire is only half the equation; preparing for the unexpected is what will ensure its longevity. After all, life is full of surprises — an accident for example, or an extended period of unemployment — can throw a wrench into your otherwise perfect path to financial security. (See also: 5 Emergency Situations You Must Prepare For)

The key, then, is to anticipate those surprises so that you can protect your family and your assets. The question is… how?