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The $2,000 Kiss
Tweet Share on Facebook May 9, 2008 Comment (14)While I was interviewing Bonnie Eaker Weil, author of Financial Infidelity: Seven Steps to Conquering the #1 Relationship Wrecker, for a story on her book, she mentioned an intriguing concept: "pop shots," which she defines as "pissed-off purchases," usually made after a fight or falling out with a romantic partner or spouse. According to her survey, the average pop shot is $486, and people average three to four a year. That adds up to almost $2,000 a year—a lot to spend because of a few fights. I am somewhat skeptical of that number—are so many people really so unhappy in their relationships and willing to blow so much money because of it?—but Weil stands by the survey results.
She also has a solution to such conspicuous consumption: Hug or kiss your partner. "That high that you're looking for [when you spend], you can get that from your partner. If you hug for 20 seconds, you get a dopamine high. If you kiss 30 seconds, you get a dopamine high. You can actually have an affair with your partner—you don't have to shop until you drop," says Weil.
Are you convinced?
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Last Call for Submissions
Tweet Share on Facebook May 9, 2008 Comment (5)The Alpha Consumer Challenge will remain open to submissions until 9 a.m. Monday. To participate, just post your answer below to this question: If you suddenly had $1,000, what would you do with it? After we've narrowed the entries down to three, you can vote to pick the best one. The winner will get his or her name and photo posted on this blog and also receive a copy of Curtis Arnold's How You Can Profit From Credit Cards.
Here is what the blogger at Boston Gal's Open Wallet would do:
If $1,000 was suddenly to fall into my lap, my first instinct is to save it. I'm a saver, and saving money is generally what I do. However, I do have expenses and many needs and wants which require spending money to satisfy. Found or unexpected money mostly gets divided. Some goes into savings, some goes toward purchasing a need, and the rest goes toward obtaining a want.
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How to Spend a $1,000 Windfall
Tweet Share on Facebook May 8, 2008 Comment (2)It's Day 2 of the Alpha Consumer Challenge, which means there is still time for you to answer the question: If you suddenly had $1,000, what would you do with it? To participate, just post your answer below. After narrowing the entries down to three, we'll vote to pick the best one. The winner will get his or her name and photo posted on the blog and also receive a copy of Curtis Arnold's How You Can Profit From Credit Cards.
To get your wheels turning, I asked You're So Money author and TheStreet.com correspondent Farnoosh Torabi what she would do with the windfall:
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Video: Avoid ID Theft
Tweet Share on Facebook May 8, 2008 Comment (6)For information on preventing ID theft and what to do if your information is stolen, you can watch this video of my discussion on Retirement Living TV:
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Financial Questions Couples Should Ask
Tweet Share on Facebook May 8, 2008 Comment (2)As my mom, grandmother, and I barbecued on a community grill in Florida earlier this year, we chatted with a woman struggling to keep her flame lit as she cooked hamburgers. "My husband always did this for me," she said, adding that last year, at the age of 60, she became a widow.
Before we parted, after she had successfully mastered the grill, she offered me some advice. "Women today should learn to do everything themselves," she said. "Don't wait until you have to."
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What Would You Do With $1,000?
Tweet Share on Facebook May 7, 2008 Comment (45)If you suddenly had $1,000, what would you do with it? Would you save most of it, spend it on a new bike, or buy a plane ticket to Paris? That's the question I put to three personal finance bloggers, all of whom have very different approaches to spending and saving. Over the next few days, I'll be posting their answers to that question, and their responses to each other's choices.
Then it's your turn. In the first edition of the Alpha Consumer Challenge, the question is: What would you do with $1,000 that dropped unexpectedly into your hands? To participate, just post your answer below. I'll pick the three choices that are the most creative, savvy, and also realistic (of course, there is a lot of subjectivity in those criteria), and then we'll pick the best one in a vote. The winner will get his or her name and photo posted on the blog and also receive a copy of Curtis Arnold's How You Can Profit From Credit Cards.
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Video: Boost Your Credit Score
Tweet Share on Facebook May 6, 2008 Comment (3)I recently spoke with Felicia Taylor at Retirement Living TV about why you should know your credit score and how to improve it. Here is the video:
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Audio: Take Advantage of the Fed Cut
Tweet Share on Facebook May 6, 2008 Comment (1)For more tips on how to take advantage of the Fed's recent interest rate cut, you can tune in to my discussion on WTOP radio. We talked about asking for a lower rate from your credit card company, getting a good deal on an auto loan, and the pros and cons of refinancing. Listen now, download on
iTunes, or subscribe to the 
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Bloggers on Surviving the Squeeze
Tweet Share on Facebook May 5, 2008 Comment (35)Welcome to the 151st edition of the Carnival of Personal Finance! If this is your first time visiting Alpha Consumer, welcome. You can check out the top posts on the bottom right-hand side of the page and subscribe through Alpha Consumer's RSS feed.
Today's theme is managing money in tight times. Tax rebates, the much-discussed recession, and food prices were among the topics on bloggers' minds.
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Simple Savings Steps
Tweet Share on Facebook May 2, 2008 Comment (6)I recently spoke with one of my favorite personal finance gurus, Liz Pulliam Weston. She has written a new book, Easy Money: How to Simplify Your Finances and Get What You Want Out of Life. You may have seen her columns on MSN Money. I asked Liz to about her book and to share some of her top advice on saving money. Here's what she had to say:
What are the most common mistakes people make with their money?
Number one is confusing "need" with "want." Before you understand the difference, you may think of yourself as a victim or as having limited choice about where your money goes. When you understand the distinction, you realize that virtually all of your spending is a choice of some kind. That's pretty powerful, and puts you back in charge. Yes, you need food, but you don't need steak, and eating something less expensive may mean you can take a killer vacation or do something else you really want to do.
