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Another Money-Saver: Cheap Dates at Home
Tweet Share on Facebook March 5, 2008 Comment (3)I received the following E-mail last night from Don Fenley, a journalist for the Kingsport Times-News in Tennessee, in response to my post that mentioned an affordable local restaurant, Mama's House Buffet.
As one journalist and aspiring foodie to another, here's the rest of the story about Mama's House. It's one of a vanishing breed—a family-owned buffet restaurant that is holding its own in a town that likes its bunch 'o lunch places. I used to eat there a couple times a week when I was doing the three to midnight shift at the Kingsport Times-News. The fare is basic, maybe a little above average, and yes, the price is right.
On his own blog, Fenley offers inexpensive home-cooking ideas, including one tempting mussels recipe for an at-home date night.
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Life on $7 a Day
Tweet Share on Facebook March 4, 2008 Comment (163)My friend Zack, who lives in New York City, recently told me that on average, he spends only $7 per day on food. I asked him to share his tips, many of which he gleaned from the personal finance blog the Simple Dollar. Here's how Zack saves money on food:
• Buy in bulk. Zack drives to the suburbs in New Jersey to shop at bulk retailers, such as Sam's Club. He fills large duffel bags of food to bring back to the city and estimates it saves a significant chunk of change each month.
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Hefty Portions Hurt Waists and Wallets
Tweet Share on Facebook March 4, 2008 Comment (2)As I found myself purchasing a monstrous 24-ounce smoothie yesterday, I had to wonder: When did 24 ounces become a "normal"-size drink? I could have ordered a 12-ounce smoothie, but that was called the "junior" size, which sounded like it was for kids.
Maybe because I write about money all day, my first thought wasn't the extra calories but the extra dollars. The 24-ounce drink—euphemistically called "regular"—cost $4.85, compared with the $3.95 "junior" size. Of course, I bought the more expensive one because, well, everyone else was doing it and it seemed "normal."
So far, much of the public discussion on portion size has focused on the health factor. A report last year from the Center for Science in the Public Interest calculated that many restaurant dishes are so large they exceed 1,000 calories. But with food prices rising, those hefty portions mean that bank accounts are suffering, too.
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Food Blogs Help Save Money
Tweet Share on Facebook March 4, 2008 Comment (14)In response to my blog post on saving money by cooking at home, a reader sent me a great website, Smitten Kitchen, which offers tempting recipes and photos of home-cooked meals. As an aspiring foodie myself, I also have a list of favorite food-related sites, all of which frequently post recipes that can help with meal planning (and avoiding spending more money at restaurants or on takeout).
My favorite sites include the Pioneer Woman Cooks, Chocolate and Zucchini, and Cooking with Amy.
I also heard from a reader telling me that I was wrong and that it is cheaper to eat out, because he can get an order of chicken, fish, vegetables, soup, beans, salad, plus a drink and dessert for only $6.56, plus tip. He says he gets this deal at Mama's House Buffet in Kingsport, Tenn. I guess I need to visit, because that sounds like an unbelievable deal.
Readers, if you have other useful resources for food-related savings, please post them below.
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Today's Best Money Blogs
Tweet Share on Facebook March 3, 2008 Comment (5)It's Monday, which means it's time for the Carnival of Personal Finance, a collection of highlights from the best money blogs. My favorites from this week include:
• Life Lessons From a Military Spouse: This blogger shares her positive experiences with a financial planner and tells readers what questions to ask, such as how he or she is compensated, before settling down with one.
• Wise Money Decisions: Jeff gives tips on how to use kids' allowances to teach them about money. (His strategy includes deductions for failure to perform chores.)
• Millionaire Mommy Next Door: This successful entrepreneur gives inspirational advice, such as creating a "treasure map" to your "rich life," which essentially involves brainstorming about your goals.
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Why You Can Afford to Eat at Home
Tweet Share on Facebook February 29, 2008 Comment (31)My first reaction to the headline on a recent Christian Science Monitor article—"Is Eating Out Cheaper Than Cooking?"—was one word: no. It's hard to imagine how restaurant dining, with tips and often inflated food prices, could cost more than a home-cooked dinner. And yet the article suggests just that.
My second reaction was a sense of déjà vu. Back in 2002, the Wall Street Journal caught a lot of flak for defending the same point—that cooking at home can easily cost more than eating out. That article, "Why You Can't Afford to Eat at Home," cited $20 bottles of champagne vinegar and $10 mushrooms to make its argument. Add a new set of All-Clad cookware, and you're out $900 more.
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Audio: How to Be Polite at Work
Tweet Share on Facebook February 28, 2008 CommentHere's my interview on proper office etiquette with Judith Bowman, author of Don't Take the Last Donut. She explains how to handle awkward office conversations, what to wear to get ahead, and the kiss-vs.-handshake debate. You can also hear the Alpha Consumer tip of the week. Listen now or download
iTunes and 
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Change of Address? USPS Will Confirm
Tweet Share on Facebook February 27, 2008 Comment (26)After I wrote about identity fraud that is perpetrated through the U.S. Postal Service, a reader said his friend's angry ex-girlfriend changed his address without his knowledge. I found it hard to believe such a feat was possible. If fraudsters could change people's addresses at will, then it could cause all kinds of problems, including missed bills, identity fraud, and major headaches.
Luckily, it's not so easy to mess with the mail. I asked Doug Bem of the U.S. Postal Inspection Service to explain how address changes are monitored. His words should be reassuring to people with angry exes in their life. He says:
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The eBay Debate Continues
Tweet Share on Facebook February 26, 2008 Comment (14)Alpha Consumer readers recently debated eBay's new policies, which raise fees on items that sell but lower them for those that don't. Many readers, particularly high-volume sellers, expressed frustration and anger over the change.
I discussed the debate over the weekend on WTOP; you can listen here.
And if you are among those participating in the boycott and are looking for eBay alternatives, consider these three.
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Five-Star Rating for Credit Cards Under Fire
Tweet Share on Facebook February 25, 2008 Comment (3)This morning, I heard Sen. Ron Wyden, an Oregon Democrat, flesh out his and Sen. Barack Obama's proposal to create a five-star rating system for credit cards during a conference at the Center for American Progress Action Fund. If a card issuer changed its terms for unfair reasons, it would get a low rating, but if it gave consumers sufficient time to switch cards, it would get a higher one, he said. Wyden compared the concept to the five-star safety ratings for new cars, which he said created extra incentives for car makers to create safer cars.
But a few minutes later, Jonathan Orszag, senior managing director at the economic consultancy Compass Lexecon, criticized the concept on the grounds that consumers are a diverse group, and one person's five-star card might be a one-star to someone else.
I, too, have wondered how the rating system would reflect different consumer preferences and habits. For example, someone who pays off the balance each month should look for a card that offers rewards, while someone who carries a balance should simply go for the lowest interest rate. So what would the government—under Wyden's proposal, the Federal Reserve—rate a card with a high interest rate and no rewards?
Plus—to paraphrase Ralph Nader before he was a presidential candidate—for some debt-ridden consumers, credit cards will be unsafe at any rate.
