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Taking a Vow of Frugality
Tweet Share on Facebook April 11, 2008 Comment (4)In the new online magazine the Root, blogger Natalie McNeal writes about taking a vow of frugality. Since February, she's avoided malls, fancy dinners, and pedicures. She compares it to taking a different kind of vow:
Once upon a time, I was financially promiscuous, giving up my cash to any peep-toe pump, nail salon or hair-dresser on the block.
The result? The nasty gift that keeps on giving: a credit card balance.
After all, the average household carries a credit card balance of $9,658, according to cardtrak.com. Far too many of us are victims of STDs, spending transaction diseases, and we are suffering.
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Video: Three Tax Tips
Tweet Share on Facebook April 11, 2008 CommentThis morning, I spoke with Good Day LA's Jean Martirez about tax time tips, including taking advantage of deductions, the benefits of retirement accounts, and filing on time to make sure you get your rebate check. You can view the video here.
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The Perfect Match: Politics and Pizza
Tweet Share on Facebook April 11, 2008 CommentI keep hearing a radio ad for Jerry's Subs and Pizza that uses a George Bush impersonator to (gently) poke fun at the president. The ad doesn't offend me, but I still find it strange for companies to involve politics in their marketing, because the chances of alienating potential customers seem so high.
But perhaps I'm in the minority—the company has won awards for its advertising, partly because of its use of political impersonations.
What do you think—do you like politics with your pizza?
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Judging Shoppers by Their Lists
Tweet Share on Facebook April 10, 2008 Comment (4)Corrected on 4/14/07: An earlier version of this blog entry incorrectly stated the title of a book. The correct title is A la Cart: The Secret Lives of Grocery Shoppers.
In a new book, A La Cart: The Secret Lives of Grocery Shoppers, Hillary Carlip interprets the lives of consumers through their lists. The performance artist has been collecting discarded grocery lists since she was young, and she imagines the lives of their former owners with the help of a makeup artist.
This fascinating project raises the question...what does your grocery list say about you? (Mine currently lists just olive oil, eggs, and raspberry jam, which might be too boring for interpretation.)
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Seniors Bomb Money Exam
Tweet Share on Facebook April 10, 2008 Comment (1)The Jump$tart Coalition for Personal Financial Literacy announced the results of this year's survey of high school seniors, and the news is not good: The average score on its finance quiz decreased to 48 percent from last year's 52 percent.
Think you can do better? Test yourself here.
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EBay Wins a Business Award
Tweet Share on Facebook April 10, 2008 Comment (17)The Better Business Bureau this week honored CarMax, Ritter Daniher, Kraft Foods, and eBay with its annual Torch Awards for their "integrity in the marketplace" and "advancing trust between businesses and consumers."
Wondering why eBay was included, considering the recent uproar over its new pricing policies? Well, the award was made before the sellers' boycott was announced, but there was no word on whether that would have changed the judging.
But the company did win in part because of its feedback policy, which has allowed buyers and sellers to rate each other—and under a new policy to take effect in May, buyers will receive only positive feedback.
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Inside Brent Kessel's 'Wanting Mind'
Tweet Share on Facebook April 9, 2008 Comment (6)When I interview personal finance authors, I've started asking them to keep a spending diary for a few days, in the style of New York magazine's food diaries, so we can see how (and whether) they practice what they preach. Here is the latest installment, from Brent Kessel, author of It's Not About the Money. (The full Q&A with Kessel is here.) Kessel's diary:
Wednesday: I'm debating whether to put a $499 Bluetooth in the Audi. It's safer than reaching for the headset, but what if the car's maintenance keeps getting more expensive? (This year alone it will be $3,000!) And if I sell it, I'll never recoup that $500. So I go over to Verizon and trade in the $129 Jawbone for a $99 Motorola headset, which I feel works better anyway, and I skip the Bluetooth installation.
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The Yoga-Money Connection
Tweet Share on Facebook April 9, 2008 CommentMy last two interviews with authors who write on personal finance also had something else in common—both practice yoga. Both Kimberly Wilson and Brent Kessel use yogic ideas about balance, looking inward, and tranquillity to inform their money philosophies.
It's not a coincidence that I chose them to feature. I also practice yoga, which is why I was drawn to these two writers. One thing that struck me from both interviews is how the topic of money, because it's so all-encompassing, can be viewed through almost any filter—including, of course, hobbies other than yoga.
Do you notice your own ideas about money shaped by your hobbies?
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Gay Couples Face Extra Financial Challenges
Tweet Share on Facebook April 8, 2008 Comment (15)It may pay to get married, but not everyone has that option. The Human Rights Campaign, a civil rights organization for people who are gay, lesbian, bisexual, and transgendered, launched a campaign this week to bring attention to the financial challenges that same-sex couples are forced to deal with. The group points out that gay and lesbian couples lack the protection and benefits conferred by over 1,000 different federal provisions.
Among the disadvantages that gay couples face compared with legally married ones:
- Unmarried couples often cannot include each other on employer-based health plans without paying tax penalties.
- They often lack job protection when taking time off to care for their partner.
- They can not give Social Security survivor benefits to their partner.
The campaign offers more information and tips for dealing with such challenges.
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Audio: Parents and Money
Tweet Share on Facebook April 8, 2008 Comment (1)Over the weekend, I spoke with WTOP about why parents can have such a hard time talking to their kids about money. You can listen now, download in
iTunes and 
RSS feed.
