Spoiled by American Retailers

As an American consumer, I am spoiled by the "good will" price guarantees of retailers. I recently bought a gold hoop earring from Jewelry TV for $79.99. Less than 2 weeks later, I discovered that the earrings were being sold for $59.99. Jewelry TV promptly gave me a refund for $20 after I whined.



I've now come to expect retailers to give me refunds if the price of the merchandise goes down within a reasonable amount of time after purchase, which is usually 30 days. But how about 40 days? 45 days?

As I previously reported, I bought a Michael Kors trenchcoat at Nordstrom for $148. I just learned from my sister that my trenchcoat has been discounted to $98. Ouch.

It's been about 46 days since I bought the jacket. I was considering going back to Nordstrom to see whether I could get the $50 difference reimbursed. But it made me wonder -- why do I think I'm entitled to such a refund? I can't think of any other business transaction in which the other party would ever consider reimbursing me for the difference in a subsequent price drop. A car dealer wouldn't. I can't cry for a refund in a stock purchase that goes south. And there are certainly many homeowners who're wishing they could un-do their sales transactions during the bubble.

I've decided not to ask for the refund on my jacket. I'm pretty sure that Nordstrom would've given me a refund, or atleast a store credit, considering how service oriented they are. But the fact of the matter is, I was willing to pay full, retail price since I rarely find clothes in my size in the "sales" racks. The $50, in my mind, was a premium I paid to ensure I would have a jacket that fits.

Would you seek a refund in this situation?

My Short-Term, "Free Spending" Days Are Coming To An End...

I started my debt snowball plan some time in July or August last year. At the time, my car loan had a balance of $8,500.50 and my credit card had a balance of $12,943.59. I paid off my car loan in February and I paid off my credit card debt in October.

I have to admit, it was a freakin' struggle to pay off $21,444.09 + interest in a little over a year! During that time, I had to deal with my jealousy /inferiority demon when I was with my financially better-off friends. I didn't have any money to spend to go out with my friends since my food + entertainment budget was $8.70/day. This budget was driving me nuts since I'm a total junk food junkie and I love eating out. But there was no other way I could afford paying $788/month in car payments and $265/month in cc payments in addition to $865/month in student loan payments.

I know the debt snowball plan required me to immediately roll my now extinguished car and cc payments into my next smallest debt, which is my private student loans (current balance ~ $44,700). But I needed to take a breather. I gave myself until the end of the year to spend $1,053/month however I saw fit.

I'm not proud, but I truly did spend every penny of the extra $1,053/month since October. What did I spend it on?

1.) Side trips to Washington D.C. and Chicago. (Note: I took the trip in September but I had to pay the piper, i.e. my cc, in October.)





2.) Eating out whenever I felt like it.(Which was almost always.) I normally don't dine out at chi-chi restaurants. I heart my local ethnic hole-in-the wall eateries. But I do like to splurge on a meal every so often. One of my most memorable meals in the past couple of months (other than the dine-n-dash restaurant) was at Rick Bayless' Frontera Grill in Chicago. Since Frontera doesn't take reservations, my sister and I waited nearly 3 hours to get a table. We had hibiscus martinis and shared a Tostada de Atun y Erizo at the bar. The tostada was absolutely mind blowing! But by the time we got sat, we were tired and exhausted. I ordered a watermelon agua fresca, pork tamale, goat enchilada and flan. The food was excellent, as you would expect. But I think I would've enjoyed the meal more had I not had to stand around for 3 hours, elbow-to-elbow with other patrons, waiting for a table.


Is any meal worth a 3 hour wait? No. Next time, I'll dine at Topolobampo, the sister restaurant next door that does take reservations.

3.) White Gold (14kt) and Yellow Gold (10 kt) Hoop Earrings for about $80/each. I bought white/yellow gold plated earrings at Macy's last year for about $20/each. I love those earrings but unfortunately, the plating on the earrings either discolored or flaked off. I decided to replace them with something more substantial. I'm happy I did (despite the fact that the metal in the yellow gold earring is excessively malleable).

4.) Casual lounge wear: My mother often bemoans the fact that I dress like a hobo at home. (Being able to dress like a hobo without recrimination should be one of the benefits of being single!) My "fanciest" lounge wears date back to 2003. (Ha ha.) I didn't go too crazy with this purchase, though, since I got a couple of track suits from Old Navy.

5.) Michael Kors black trench coat: I totally splurged on this one at Nordies - - $148. But it's totally worth it because it's soooo cute. (And we all know that "cuteness" justifies any expense. Not!) I'll probably wear it over the next decade, so I'm not going to kick myself for this.

6.) New PJs, bras, panties and other misc. clothing

7.) Snuggie! ($19.99 at Costco.) Laugh all you want. I suffered a really bad case of the flu and bronchitis this year. While I was congested, I had to sleep upright and my blankets always fell off my shoulders. I thought to myself, I could really use a Snuggie. Although I bought it after I recovered from the flu, I still love my Snuggie.

~~~

I'm sure there were more stuff I bought or consumed that belonged in the "want" and not "need" category. But these were the highlights.

I enjoyed the past couple of months of hedonistic spending. But it's now time to tighten the belt. I re-did my budget and I'm going to start paying $1,478/month towards my private student loans in January. That means I have to go back to living on a budget in December. *Sigh*. But at least I'm going to treat myself to a monthly massage ($59 + $20 tip) from now on. :-D

I am so going on a spending binge once this frickin' private student loan is paid off! (I'm estimating 30 months or so.)

Ink Jet Cartridge Refill Fail

So I've been reading about how wonderful it is to refill your ink cartridges at a fraction of the cost you would pay to buy new cartridges. Walmart sells my black + color ink cartridge combo for $47.97 + tax. $52 is a bit steep, so I decided to give the refill a try at Costco, whose refill price ranges between $7.99 - $14.



First of all, it's not all THAT easy. I went to Costco and was told it would take an hour. Ummmm... okay. I was hoping it would be more like 15 minutes, so I can go around the store trying freebie food samples while I waited. No problem, I'll come back in an hour.

An hour later, I was told that the refill for my color cartridge didn't work. (Grrrr.) I was charged $7.99 + tax for the black cartridge refill. Oh, and the Costco guy tried to keep my color cartridge.

Costco Dude: You want the empty cartridge back?

Shtinky: Duh, dude. I can get a $3 rebate from Staples if I do so.

Now I'm off to Staples to buy myself a color cartridge for $28.99 + tax. (I bought the cartridge at Staples for no other reason than convenience.) I recycled my cartridge and was told I'll get my $3 rebate some time before the end of the year. Great.

Once I got home, my printer recognized my new color cartridge but indicated that my black cartridge was empty. WTF? No matter what I did, it still showed the black ink cartridge was empty. *Annoyed sigh*

I returned to Costco to complain. The Costco counter dude asks, "Didn't you read our instructions?"

Shtinky: WHAT instructions?

Costco Dude: This one. [Shows me a print-out of Do's and Don't's of Inkjet Catridge Care and Maintenance that says: 'After inserting the refilled cartridge, some printers may indicate a "Low Ink" message. For help with this or other printer related matters please visit: www.inkjet411.com']

Shtinky: It would've been nice if you would've given me that before I left the store.

Costco Dude: We always include it with our refills. You probably misplaced yours.

I was sufficiently annoyed that I decided to return the refilled ink cartridge for a refund. But of course, Costco kept the black ink cartridge, so I couldn't recycle it for another $3 rebate. I then went to Walmart to pick up a new black ink cartridge for $23.97 + tax.

FINAL TALLY OF MY INK JET CATRIDGE REFILL FAIL
Color Cartridge: $31.53
Black Cartridge: $26.07
Missed Opportunity to Recycle Black Cartridge: $3.00
Unnecessary Gas Usage + Mileage (Driving to and fro Costco-Staples-Walmart): $2.00 (est.)
SUBTOTAL: $62.60

And keep in mind, I could've just purchased a combo pack for $52.16 and gotten a $6.00 rebate from Staples for future ink cartridge purchases.

Total Money Saving Fail: $16.44

I could've bought couple of nice lunches or atleast 1 dinner with this lost money.

Grrrrrr... I may try to refill again in the future and see if I'll have better luck next time.

Afraid to Spend?

I have a strange problem. In 2007, I was given a $25 gift certificate to FYE, an online/brick-and-mortar entertainment media store that's membership based but also open to the public (without the membership discount). I haven't spent the $25 since I don't know what to buy.

I'm not particularly interested in any music album right now. None of the artists really grab my attention. (The decision would be so much easier if I was a tweenager swooning over Joe Jonas. *Sigh*) I also hate buying an entire album since more often than not, I'll only like 30% of the songs and the rest I'll be indifferent. I prefer buying my music one song at a time on iTunes. It may not be cost effective, but atleast I'm limiting my purchase to music I actually like.

And movie DVDs? Hmmm... I can't think of any movies I'd really like to own. I recall reading how this one guy used to spend thousands upon thousands of dollars buying DVDs. I wonder how often this guy watched the purchased DVDs? I bet not often.

I think the real problem here is not that I have nothing to buy. After all, most DVDs are priced under $25. I think the real problem is that I'm afraid to spend the $25; I'm afraid that I'm not going to maximize the utility and enjoyment out of this $25. If the gift was $25 in cash, I wouldn't be having this pointless internal debate - I'd put it in my savings account, put it in my Roth or buy Treasury Bonds with it.

I just can't believe I'm spending so much time over something so trivial. More worrisome is that perhaps I have become so miserly that I can't enjoy spending "found money" on something uselessly entertaining. That's a bad sign.

I'm just going to suck it up and spend it once and for all. For the past few weeks, I've been slowly watching a short-lived dramedy from 2004 called Wonderfalls on YouTube. It's a quirky and cute story based in Niagara Falls about a slacker Gen Y gal who is over-educated, under-employed and has a juvenile fear of personal relationships. Her life takes a positive, yet wacky, turn when inanimate objects with animal faces start talking to her and giving her vague orders to do things. (Oh. And the character's love interest is really cute. I can see that I'm already going down the path of cougardom.)

I'm feeling a bit guilty for watching something that may or may not be authorized. I'll atone by buying the DVD of the series' one and only season. And lucky me - it's right within my price range.

I <3 Infomercial Products

I have an embarrassing secret - - I love infomercials and I always have to fight the strong urge to buy the products. This horrifying seed was planted while I was a kid growing up in the 70's, watching the ubiquitous Ginsu knife commercials during Star Trek re-runs. (It can cut a soda can and still cut a tomato! Wow!)

The urge to purchase is so strong that I sometimes I forget I have absolutely no need for the product. Do you remember the Banjo Minnow lures? I've never fished (nor do I ever have the desire to do so), yet the commercials were so mesmerizing that I wanted to buy it! (Rest assured, I exercised self-control and I never did.)

I guess I love the infomercials because they prey upon my desire to believe their questionable (read: bogus) pseudo-scientific claims.



Here's a classic example from the Caruso Molecular Hairsetter system informercial. (This was my first "As Seen On TV" purchase in the early 90's.)

Host: "Why is this the only hair styling system that actually conditions as it curls?"

Hack: "Because this is the only system that uses molecules of 100% steam! And steam is very therapeutic and soothing. It doesn’t dry out or split or break the hair like hot rollers or curling iron will. I like to think of it like giving your hair a facial treatment!"

[Shtinkykat rolling her eyes.] I can't believe I actually enjoy listening to this nonsensical drivel.

Despite the hyperboles and overt cheesiness of the commercials, I've been quite happy with all of my infomercial purchases. For example:

• The Caruso hair styler did do a pretty good job about curling my Cousin It hair;
• My love for OxiClean dates back to when Billy Mays was still hawking it on TV;
• Although the Safety Edge Can Opener is a hit-or-miss depending upon the can, the Safety Jar Opener is a definite winner; and
• I still pack my clothes in a Space Bag Travel Genie whenever I travel.

But I do know that a lot of the infomercial stuff are junk too. Like the Kinoki footpads and all other non-FDA approved dietary supplements, and ahem, male enhancement products. (Not that I have any use for male enhancement products, mind you.)

Now that I'm more responsible with my money, I'm hoping that I'm immune to the infomercial Jedi mind trick. Eh! Who am I kidding? I'd be happy if I'm just a wee bit more discriminating when I purchase these things in the future. To that end, I found a great resource at the CBS affiliate station KFVS's Does It Work Wednesday site.

Based upon KFVS's tests and reviews, I don't think I'll ever buy the Smooth Away (darn!), but I may consider buying the Ped Egg.

Although not an infomercial product per se, the Pledge Fabric Sweeper commercial also intrigued me since I own a black cat who sheds copiously. KFVS gave the product a solid "B" for its ability to pick up pet hair, so I'm definitely going to try it out.



Check out the site. I'm sure I'm not the ONLY person who's been intrigued by some of these infomercial claims!

Finally! My Lovely Late-Bloomer

During my spendthrift days, I used to buy fresh-cut flowers every week. I tried to keep the costs down by purchasing my flowers from Costco and Home Depot, but it wasn't a cheap habit.

One of the ways I cut down on this expense, but still enjoy some blooms, is by buying potted plants instead. During Christmas 2007, I debated whether to buy a paper-white bulb or an amaryllis bulb. When I learned that a paper-white bulb only blooms once but an amaryllis bulb can re-bloom with proper care, my decision was easy - - I purchased the amaryllis bulb.

When you buy a bulb from a nursery or a store, the care is relatively idiot-proof. I just planted the bulb, watered, put the pot by a sunny window-sill and it bloomed. The flower continued to bloom for the next month or so.

I later learned that an amaryllis' after-bloom care is pretty high-maintenance, though. For example:

• After the flower wilted, I cut off the stem and kept the pot in a sunny area. I watered and fertilized the plant regularly for the following 5 to 6 months to allow the leaves to grow. (This was necesary to allow the leaves to replenish the food storage in the bulb.);
• When the leaves began to yellow (around August), I stopped watering the plant. When the leaves turned completely yellow, I cut the leaves a couple inches above the bulb and removed the bulb from the soil;
• I cleaned the bulb and kept it in my fridge (50 to 60 degrees) for the following 6-8 weeks. (Who knew that amaryllis bulbs needed to "hybernate" in order to re-bloom?);
• In November, I re-potted the bulb, hoping for a bloom by New Year's.

Despite my best efforts, no bloom in January. Nor in February. Or March. In early April, a stalk finally sprouted and revealed 4 adorable flower buds. Hurray!

But disaster struck a couple of weeks ago -- I came home to discover the pot on the ground with the soil and the bulb spilled. I was mortified when I discovered the cracked stem. I twist-tied the stem together and prayed for the best.

I was upset. It was too reminiscent of my investments. I diligently fed and nurtured both. But due to circumstances out of my control, both my investments and my amaryllis crashed and cracked. The plant was so close to blooming and it's life may have been cut short.

But finally this week, my amaryllis bloomed. Hallelujah! All of my efforts weren't for naught!

It's clear, though, that the recent crash had a negative impact on my flower. The color isn't as vibrant and the bloom isn't as big. But who cares? It survived and it's stubbornly trying to grow, just like my 401k. I'm now hoping that the remaining buds are healthy enough to bloom as well. (*Fingers crossed*)

I feel a certain kinship and I have a sweet-spot for my amaryllis, since it's just like me - we're both a couple of late bloomers who need a lot of sleep and enjoy good food. And we've both demonstrated we can also roll with the punches!

And dare I say, we look smashing in red? *^_^*

Perhaps I HAVE Changed My Spendthrift Ways?

If you look at the details of my networth, you'll see that I have shloads of credit card debt. I wish I have a good excuse for it, but I don't. It was spent on designer purses, jewelry, fancy vacations,restaurants and shoes. You know, all necessities. ;-D

Although I strive to live a simpler and more frugal life, my spendthrift way is just lurking right below the surface. I have this nagging doubt that I haven't changed organically or internally at all. I can't help but to think that I'm only reacting to external factors, such as an impending layoff and my debts.

But something happened yesterday that made me think that perhaps I have changed. A SHOE EMERGENCY!! [Cue dramatic music.]

It happened near the end of the work day. I was walking, walking, walking until I heard a big crack and my left leg wobbled. Thank goodness (?) I have short legs and a low center of gravity since I would've otherwise done a face-plant.

Anyhow, the old Shtinky would've taken this as a true emergency. I would've left work early, headed to Nordstrom or Macy's to buy a replacement pair of shoes. $350 for a pair? Wow, that's expensive, but I have the credit-limit available! No problem!

And don't think the thought didn't cross my mind. In fact, I'm ashamed to admit I seriously PONDERED whether this qualified as an "emergency" thus allowing me to tap my emergency fund. After all, I AM at work and I shouldn't be walking around barefoot in the office, right?

Wrong. I sucked it up and taped up my heel. Can you see the clear tape around the left shoe in the picture?



Perhaps it wasn't really safe for me to walk around in the taped-up shoe, but how dangerous is it for me to walk from the office to my car to my apartment? Not much.

I'm proud to say, I've decided not to replace the shoe. I have several other similar style shoe in the same color. I'm seeing this as a good sign that I've changed my spendthrift ways. :-D

Okay, enough with patting myself on the back; I'm moving on to a rant.

I swear, I will never buy Jessica Simpson shoes ever again. It's not expensive but it's not cheap either. A shoe should last more than a couple of years, don't you think? I mean my Stuart Weitzman shoes have lasted me over 7 years! (It needs serious polishing, though. Heh heh.)

I guess this is a lesson learned: Buy good shoes, especially if you intend to wear them for a long time.

P.S. Hope you're all having a wonderful Passover and Good Friday. And have a wonderful Easter!

Shtinkykat is Stinky?

The dresscode at my workplace is business casual. But since our office is a satellite office (i.e., not home office) and we've been seriously downsized, it's now plain casual. But I've been wearing sheath dresses vs. casual separates to work. (Think Michelle Obama.)

It's not that I'm fashion conscious or I want to maintain a sense of business decorum. I'm just plain lazy. I also hate wearing separates, especially button-down shirts. (It must be residual trauma from being forced to wear the ugly Catholic school uniform my entire youth.) It's also much easier to slip on a dress after a shower and to slip it off when I come home. It's also fewer materials I need to wash.

Speaking of washing, a co-worker, who regularly dresses in jeans and casual shirts recently commented, "Your drycleaning bill must be through the roof!"

I replied, "Actually, I rarely dryclean. I wear my dresses about 2-3 times and then I handwash them in the tub."

My co-worker grimaced and said, "Ewwww. You don't wash your clothes after every wear??"

"No, why? Am I malodorous?"

"No, but it's just so unsanitary!", my co-worker exclaimed.

That got me really paranoid. Am I really unsanitary by not washing my clothes after ever wear? Am I just engaging in the extended college-ritual of wearing anything that passes the "sniff" test?

I thought carefully how and why I developed my current clothes-washing habit:

• I'm lazy;
• I don't have a washer-dryer in my apartment unit. I need to walk 2 flights of stairs plus an additional 50 ft (one-way) to the laundry room. Hence, I try to minimize the amount of laundry I do with the washing machine/dryer;
• I don't think washing after every wear is necessary, especially if I'm just wearing it to the office and I'm not sweating in it;
• Washing after every wear would "wear-out" the materials more quickly;
• It's cheaper to handwash vs. machine wash/dryclean;
• It's probably more environmentally friendly to handwash vs. machine wash/dryclean;
• I use less energy by hanging my clothes to air-dry.

Have I sacrificed clean living in the name of frugality (and laziness)? How often should I be washing my work clothes without being disgusting? Now I'm concerned!

BBC's The Big Read - Time to Make Good Use of The Library

The BBC believes most people will have only read 6 of the 100 books in their Big Read Top 100 list. I thought to myself, "Pshaw! I'm well educated. I'm sure I've read most!"


Uh-oh. I guess I'm hitting the library very soon. UPDATE: Books read by Shtinky denoted below. DISCLAIMER: "Read" does not mean I've retained any of it. The reason why I haven't read many of the "required reading" from highschool is because I cheated by reading the Cliff's Notes. I'm probably going to have to re-read all of them!! UPDATE #2: I probably won't finish this list because I know I'll NEVER finish War and Peace or the Bible. But I'm certainly going to give it the good ol' college try. :-D

How do your reading habits stack up?

Instructions: Look at the list and put an 'x' after those you have read.

1 Pride and Prejudice - Jane Austen ( )
2 The Lord of the Rings - JRR Tolkien ( )
3 Jane Eyre - Charlotte Bronte (1)
4 Harry Potter series - JK Rowling (2)
5 To Kill a Mockingbird - Harper Lee (3)
6 The Bible - ( )
7 Wuthering Heights - Emily Bronte (4)
8 1984 - George Orwell (5)
9 His Dark Materials - Philip Pullman ( )
10 Great Expectations - Charles Dickens ( )
11 Little Women - Louisa M Alcott (6)
12 Tess of the D’Urbervilles - Thomas Hardy ()
13 Catch 22 - Joseph Heller ( )
14 Complete Works of Shakespeare ( )
15 Rebecca - Daphne Du Maurier ( )
16 The Hobbit - JRR Tolkien ( )
17 Birdsong - Sebastian Faulk ( )
18 Catcher in the Rye - JD Salinger (7)
19 The Time Traveller’s Wife - Audrey Niffenegger ( )
20 Middlemarch - George Eliot ( )
21 Gone With The Wind - Margaret Mitchell (8)
22 The Great Gatsby - F Scott Fitzgerald ( )
23 Bleak House - Charles Dickens ( )
24 War and Peace - Leo Tolstoy ( )
25 The Hitchhiker’s Guide to the Galaxy - Douglas Adams ( )
26 Brideshead Revisited - Evelyn Waugh ( )
27 Crime and Punishment - Fyodor Dostoyevsky ( )
28 Grapes of Wrath - John Steinbeck ( )
29 Alice in Wonderland - Lewis Carroll (9)
30 The Wind in the Willows - Kenneth Grahame ( )
31 Anna Karenina - Leo Tolstoy (10)
32 David Copperfield - Charles Dickens ( )
33 Chronicles of Narnia - CS Lewis ( )
34 Emma - Jane Austen ( )
35 Persuasion - Jane Austen ( )
36 The Lion, The Witch and The Wardrobe - CS Lewis (11)
37 The Kite Runner - Khaled Hosseini - ( )
38 Captain Corelli’s Mandolin - Louis De Bernieres ( )
39 Memoirs of a Geisha - Arthur Golden (12)
40 Winnie the Pooh - AA Milne ( )
41 Animal Farm - George Orwell (13)
42 The Da Vinci Code - Dan Brown ( )
43 One Hundred Years of Solitude - Gabriel Garcia Marquez ( )
44 A Prayer for Owen Meany - John Irving ( )
45 The Woman in White - Wilkie Collins ( )
46 Anne of Green Gables - LM Montgomery ( )
47 Far From The Madding Crowd - Thomas Hardy ( )
48 The Handmaid’s Tale - Margaret Atwood ( )
49 Lord of the Flies - William Golding (14)
50 Atonement - Ian McEwan ( )
51 Life of Pi - Yann Martel ( )
52 Dune - Frank Herbert ( )
53 Cold Comfort Farm - Stella Gibbons ( )
54 Sense and Sensibility - Jane Austen ( )
55 A Suitable Boy - Vikram Seth ( )
56 The Shadow of the Wind - Carlos Ruiz Zafon ( )
57 A Tale Of Two Cities - Charles Dickens (15)
58 Brave New World - Aldous Huxley( )
59 The Curious Incident of the Dog in the Night-time - Mark Haddon ( )
60 Love In The Time Of Cholera - Gabriel Garcia Marquez ( )
61 Of Mice and Men - John Steinbeck ( )
62 Lolita - Vladimir Nabokov ( )
63 The Secret History - Donna Tartt ( )
64 The Lovely Bones - Alice Sebold ( )
65 Count of Monte Cristo - Alexandre Dumas ( )
66 On The Road - Jack Kerouac ( )
67 Jude the Obscure - Thomas Hardy ( )
68 Bridget Jones’s Diary - Helen Fielding (17)
69 Midnight’s Children - Salman Rushdie ( )
70 Moby Dick - Herman Melville (18)
71 Oliver Twist - Charles Dickens (19)
72 Dracula - Bram Stoker ( )
73 The Secret Garden - Frances Hodgson Burnett (20)
74 Notes From A Small Island - Bill Bryson ( )
75 Ulysses - James Joyce ( )
76 The Inferno - Dante ( )
77 Swallows and Amazons - Arthur Ransome ( )
78 Germinal - Emile Zola ( )
79 Vanity Fair - William Makepeace Thackeray ( )
80 Possession - AS Byatt ( )
81 A Christmas Carol - Charles Dickens (21)
82 Cloud Atlas - David Mitchell ( )
83 The Color Purple - Alice Walker (22)
84 The Remains of the Day - Kazuo Ishiguro ( )
85 Madame Bovary - Gustave Flaubert ( )
86 A Fine Balance - Rohinton Mistry ( )
87 Charlotte’s Web - EB White (23)
88 The Five People You Meet In Heaven - Mitch Albom ( )
89 Adventures of Sherlock Holmes - Sir Arthur Conan Doyle ( )
90 The Faraway Tree Collection - Enid Blyton ( )
91 Heart of Darkness - Joseph Conrad (24)
92 The Little Prince - Antoine De Saint-Exupery (25)
93 The Wasp Factory - Iain Banks ( )
94 Watership Down - Richard Adams (26)
95 A Confederacy of Dunces - John Kennedy Toole ( )
96 A Town Like Alice - Nevil Shute ( )
97 The Three Musketeers - Alexandre Dumas ( )
98 Hamlet - William Shakespeare ( )
99 Charlie and the Chocolate Factory - Roald Dahl ( )
100 Les Miserables - Victor Hugo (27)

Slave to Consumerism and I'm Happy

Good posts and comments should challenge your current way of thinking and ParanoidAsteroid's recent critique and the Frugal Bachelor's comment about another PF blogger's post really hit home. Perhaps, I've given consumerism an undeserved bad rap.



I'm currently $11,000+ in credit card debt. As if that figure isn't embarrassing enough, I was more ashamed that I have nothing to show for it. Sure, I have a pair of diamond earrings and pretty decent wardrobe. But nothing like antiques or an extensive haute-couture shoe collection like Carrie Bradshaw.

And since I kept lousy records, I'm not exactly sure where all the money went. But I'm pretty sure that one of my top spendings was on food. I thought to myself, of all the stupid things I've done (which are many), going into debt for something I consume and literally piss away, takes the cake. (Oh goodness. I never thought I would use "piss" and "cake" in the same sentence. Sorry for the disgusting imagery.)

Last year, in my quest for financial responsibility and personal redemption, I implemented a pretty spartan food budget, which means I rarely eat out and my home-cooked meals generally consist of easy-to-make food. Admittedly, over the course of the year, I fell off the horse a few times, but I've done relatively well sticking to the budget. But somehow, there was always an under-current of feeling deprived.

In a recent MSN SmartSpending post, The Simple Dollar wrote:

In a way, I almost looked down on people who are frugal, particularly people who actively choose frugality over simply buying the best. I felt pride in my possessions and experiences -- and I looked at people who chose different paths as needlessly depriving themselves.
...
What I've learned is that a sense of being deprived -- provided, of course, that your basic needs are met -- is just a negative state of mind.
...
Frugality isn't choosing to be deprived. It's just a different way of looking at things.

I'm guessing that the point TSD wants to make is that money spent beyond obtaining basic necessities of life has a diminishing rate of return for happiness. And I agree.

But for every dollar we spend beyond providing for basic sustenance, aren't we all in varying degrees, buying some increased level of contentment, if not happiness? And what's so wrong about buying some fleeting moments of joy?

And what if some experiences can usually only be bought?

I come from a culture that places great importance on food as a spiritual and communal activity. In essence, my culture stresses the importance of appreciating food, not merely as a source of sustenance but also as a medium for appreciating nature and art.

As a result, I deeply appreciate food, and not just food from the old country -- all kinds of food, particularly ethnic foods. Give me a good hot piping bowl of Vietnamese Pho rather than chicken noodle soup. I'd rather clog my arteries with Phillipino deep fried lechon versus chicken-fried steak. And when someone says "barbecue", I immediately think "Korean".

Consuming good food and a variety of food gives me great joy. And this often means that I'd have to eat out since:

• Ingredients to make cuisines from the old country is expensive since much of it is imported;
• It is generally not cost-effective for me to cook for one;
• One of the downsides of a culture that places high-importance on food is that great emphasis is placed on not only the cooking method, preparation and taste, but also the aesthetics of the cuisine itself. I certainly cannot replicate some of the food that ethnic restaurant chefs have been trained to do.

And I'm not talking about restaurants like Joel Robuchon that serves a $385, 16-course meal, or a $150 omakase-meal at Nobu's.

I'm talking about enjoying a $1.50 taco made with cow-head meat from a street vendor. I'm talking about the joys of discovering that something as disgusting looking as a sea-cucumber can actually be very tasty. I'm talking about the joys of sharing a traditional, communal hot-pot meal with someone who has never eaten food from my native country.

Was it really that bad for me to feel deprived when I chose not to eat food that I truly love for the sake of frugalism? If that makes me a slave to consumerism, so be it. I'll just practice a more responsible form of consumerism-slavery. :-D

Dave Ramsey Is A Big Fat Liar

Eh, I’m just joking, but not really. Based upon my own personal experience, Dave Ramsey's book, The Total Money Makeover, is premised upon a flawed concept that is common to all self-help books. Specifically, it bases its advice upon a generalized assumption of human behavior, when in fact, most individuals are complex and often irrational.



As you all know, Dave advocates the debt snowball which requires you to pay off your debts in the order of smallest balance to highest, regardless of interest rates. The debt snowball is based upon the notion that paying off the little debts quickly gives you a “psychological boost” to tackle the next debt.

Well, I just recently paid off my first debt (car loan) and I have to admit, I’m happy, but not AS happy, as I thought I would be. I’ve waited and dreamed over 3 years about the day I would pay off my car loan. I imagined handing my check to the credit union teller and jumping for joy and squealing when she hands me the zero balance receipt.

Truth be told, I was excited that morning, but the whole event itself was disappointingly anti-climactic. Perhaps I was building the whole final payment event up in my mind to the point that I was setting myself up for disappointment.

Worse yet, I expected to feel the way Dave Ramsey said I should, but haven’t. Dave virtually promises in his book that I would feel so great after paying off my first debt that I would be extra motivated to tackle my next debt!!

Uhhhhh…. In reality, I am just relieved to have the $788/month obligation lifted from my shoulders. As a result, I’m now feeling a strong desire to give myself some “breathing” room in my monthly budget. And as I’ve previously mentioned, I’m battling spending demons as I write this.

I’m getting tired of constantly monitoring my spending, deciding what’s a need vs. want, and choosing to forego relatively minor purchases like a $40 cordless phone. (Wah, wah, wah, whine, whine, whine, I know!)

Perhaps I never had the “gazelle intesity” necessary to successfully follow-through with the debt snowball. Or, hopefully, as Abigail from I Pick Up Pennies suggests, maybe I’m just suffering from “frugal burnout” that waxes and wanes. Or, perhaps I’m feeling blue and I’m seeking retail therapy.

I don’t know. But I feel like a recovering addict who is tempted to revert to old habits.

So let this be a warning to all: the purported pyschological boost of the debt snowball is overrated. Instead, you will find yourself at a fork in the road after overcoming your first hurdle.

Next month, I have the choice of either: 1.) saving the $788 car payment with the purpose of paying off my credit card debt in October as per my revised snowball plan, or, 2.) spending some or all of the car payment money on other stuff.

I know which is the right road to take. I just don’t know if I have the emotional strength to do the right thing.

Would You Nickel and Dime a Business in Trouble?

I just saved tons of money on my newspaper subscription yesterday. And I'm not feeling too great.

I got my credit card statement from the Los Angelest Times that showed they charged a mint for my subscription between 12/15/08-02/09/09. I did my usual routine of calling and asking to cancel my subscription because "it's too expensive", which is true. They then transferred me to a "subscription services specialist" who offered me a better deal.

My new deal gives me a 65% discount off my current subscription price which will be good until 01/20/2010. Much better... for me.

It's no secret that major newspaper companies around the country are in financial trouble. Although I don't live in L.A., my newspaper of choice is the Times. (I can't stand reading the local paper that masquerades as a newspaper.)



I realize that my subscription alone won't make or break the LA Times. But with their readership and ad revenues down, this type of haggling can't help. And if other subscribers collectively negotiated their rates, isn't it a bit like helping ourselves only to drive a newspaper out of business?

Suze Orman Free e-Book Download Thursday

Suze Orman will be launching her new book, Suze Orman's 2009 Action Plan, on The Oprah Winfrey Show on January 8, 2009 (Thursday). The show will offer a free e-book download in English and Spanish on Oprah.com for one week, culminating in a live webcast on Thursday, January 15, 2009, at 9 p.m. EST/6p.m. PST.

(A free e-book and BCS championship game all on the same day? Looks like Thursday will be a red-letter day!)



I already have Suze's book, The Road to Wealth, which provides a comprehensive (if somewhat very broad and basic) overview on a lot of topics ranging from managing debt (Chapter 1), home ownership (Chapter 3) and stocks, mutual funds, bonds and bond funds (Chapters 7-9).

I'm not sure what more she can add in her 2009 Action Plan that haven't been covered in her prior books already. But I think her Saturday TV program gave us a preview of the theme of her new book: the need to confront our financial demons to vanquish them (or, in her terms, "Face It To Erase It").

She cautioned that the next financial crisis will come from credit card companies that will slash the credit limits of anyone who carries a balance and is only making minimum monthly payments. Because these people will owe in excess of their newly reduced limits, the credit companies will automatically trigger a provision that will allow them to increase their interest rates to 25%-30%.

This isn't really ground-breaking news. But you better believe if I can get her new book for free, I'm gonna download it!

Speaking of Suze, I love Stephen Colbert's spoof on Suze and the US government's $700 billion bailout program:

Cheap Stuff To Do In Vegas

I'm headed to Vegas over Thanksgiving weekend. So far, the plan hasn't been prudent or frugal. BUT, we're only spending a day and a half so I can't really do much damage, right? I've also been doing a bit of research to rein in the spending.

Here are some of the things I can do:

$0.00: Usually, this time of the year, Vegas gets pretty cold. But based on the weather we're having lately, it looks like we're going to have an unseasonably warm Thanksgiving. I'll be packing my bathing suit and spending some time at the pool.

$0.00: Since I'll have a car, I'm thinking of taking a side-trip downtown and check out the Fremont Street Experience. The FSE is a 90-foot-canopy that covers the entire street. Every hour between sunset and midnight it comes alive as Viva Vision -- an integrated video, graphics, and music show.


$0.99: Deep fried Twinkies and Oreos. I really don't care much for Twinkies or Oreos. But deep fried Twinkies and Oreos drizzled in chocolate and covered with powdered sugar? I'm intrigued!

$1.99: While we're Downtown, I'll have a classic shrimp cocktail at the Golden Gate's San Francisco Shrimp Bar & Deli. Or I may have the $2.99 big shrimp cocktail instead. Back when I was a college student, the shrimp cocktail in a parfait glass cost $.99 and it impressed the heck out of me. I wonder if I'll still be impressed?

$0.00: The emerging Downtown Arts District may have some free gallery tours and special events.

$2.50: The Plaza in Downtown has cheap well drinks.

$7.77: At Mr. Lucky's 24/7 in the Hard Rock Hotel, I can order the Gambler's Special: Steak, three grilled shrimp, a choice of potato or broccoli and a salad. It's not on the menu -- I'll have to ask the server -- and is available around the clock.

$0.00: Free admission to Mix Lounge at THEhotel before 10 p.m. (I don't stay up much later than that anyways! LOL.)


$12.95: I can live out my fantasy to be a Showgirl. Just kidding. But I could be part of the Rio Casino's Masquerade in the Sky show.

$7.50: Try Mo's chocolate covered bacon bar at the Forum Shopes at Caesars Palace. I know it sounds disgusting but I've heard people RAVING about this.

$0.00: Centaur Art Gallery at the Fashion Show Mall.

$0.00: Last time my sister and I were in Vegas, we couldn't catch the Sirens of TI show due to high winds. Hopefully we'll catch it this time.

Why do I get the feeling that I'll suffer from a massive sugar coma during this Vegas trip? Anyhow, here's a good guide for doing Sin City on a budget. Viva Lost Wages and have a great weekend folks!

Emotional Eating Wreaking Havoc With My Frugal Living

As you may recall, I spent $91.50 on sushi a couple of days ago. After that debacle, I vowed to maintain an austere lifestyle for the rest of the month to atone. But I've been eating out a lot these days. (It's a lot of fast food but I still consider that very un-frugal.)

The economy and the uncertainty of my job is causing me to be a bit blue and lethargic. In times of stress, I like to stuff my face with greasy food, chocolate, ice cream and beer. I guess this is my other emotional blankie. (And at least I haven't gone shopping to make myself feel better, right?)

My friend suggested that I stop watching the news and CNBC. But her suggestion isn't a true panacea since I'll be trading in insecurity and stress for ignorance and apathy. No thanks.

I'm pretty sure that everyone is nervous about the economy and their financial well being. How are you all dealing with this? I'm looking for a frugal alternative to stuffing my pie-hole to deal with my stress, so your suggestions are highly welcomed.

Girls' Night Out at the Local Casino

My girlfriends and I went to the local casino for a girl's night out last Friday.


It wasn't an extravagant outing since my buffet dinner got comp'd by my high-roller friend. (It always helps to be friends with a platinum cardholding member of the casino's frequent gambler club.) :-D

At the buffet, one thing that struck me was how deprivation made me really appreciate the things I took for granted in the past. Before I resolved to live on a budget, I never thought twice about eating at expensive restauarants on credit. I'm craving steak? I'm going to have a surf-n-turf at Morton's or Ruth's Chris Steakhouse! I'm craving sushi? I'm going to Nobu's, and heck, I'm going to treat my friends because I can! (I guess this explains why I'm currently $13,000 in credit card debt. Sigh.)

Alas, those days are over. Don't get me wrong -- I'm not ruing my former lifestyle. Far from it. Truth be told, I'm actually happier now that I'm living within my means and watching my debt go down while my savings increase, albeit at a snail's pace. (A recent poll also shows that people who plan for their financial future tend to be happier. I'm no exception.)

But I admit that I battle my food cravings on a daily basis to stay within my spartan food budget. In order to stick to my budget, I don't eat sushi or beef anymore. (Taco Bell burritos don't count as beef, by the way.) I also don't eat out much either. (Again, Taco Bell doesn't count.)

At the buffet, I loaded up on all-you-can-eat crab legs, roast beef, mashed potatoes, Chinese food, sushi and crepe. (I know it sounds like a weird combination of food but in my defense, I had to try everything.) The quality of the food was good, but not excellent (since it is a buffet after all). But boooooy, I didn't care. Was it delicious!! (I think it was especially delicious because it was free.)

Since it's been a while since I'd eaten so extravantly, I savored every bite and morsel. And perhaps this may be the best thing about making sacrifices to live within one's means -- I've learned that I can appreciate life's modest indulgences rather than seeking endlessly for the next, higher level of consumption. It's pretty ironic, funny and cool that I've discovered this nugget of wisdom at a casino buffet, a symbol of excessive consumption.

Beer Me!

Thank you to all who have participated in my To Beer or Not to Beer poll.

The vote is in: By a margin of 2 to 1, the people have voted their approval of buying beer with recycling proceeds. Pheeewwwwww. (Truth be told, I was hoping for this outcome. Heh heh.)

I also want to thank the people who've taken time out of their busy lives to leave thoughtful comments. It's interesting that all of the commentators have voted "yes" to buying beer. (I love my audience!) They suggested that although savings are important, it is also important to enjoy some small indulgences here and there. I couldn't agree more.

So there you have it. I shall redeem my recycling voucher today to buy myself a six-pack at Trader Joe's. :-D

But to also honor the wishes of the proponents of snowflaking, I will make every effort this month to save an extra $10.

Am I A Self-Righteous Cheapskate?

In my prior post, I discussed how I've been limiting my outings with friends due to budgetary concerns.

My friend SA is aware of my budget, and offers to buy me things when we go out together. I’m sure SA means well, but her gesture always makes me feel, well, poor and cheap.

SA and I discuss financial issues often (including the need to "tighten our belts") but we deal with money differently. I have a budget and I stick to it. If I go over my budget, I have to make do with whatever I have until the next month rolls along. If I have any left over money, I put it into my savings account towards my emergency fund or I earmark it for anticipated future expenses (e.g. gifts, car maintenance, etc.) I don’t raid my un-earmarked savings to buy frivolous stuff.

SA, on the other hand, claims she’s tightened her belt, yet still buys premium hair care products, shops at Nordstrom, gets regular manicure/pedicures, etc. She recently told me that she just bought a 50-inch LCD HDTV that she bought with a 1-year, 0% store credit. (Mind you, she already has a 42-inch plasma TV.) She says she has money in savings and will pay it off in once the 0% period ends. I wondered, but did not ask, whether she’s raiding her emergency fund to pay for it or whether she’s going to save during the course of the year to pay for it.

I try not to criticize my friend’s spending. I also try not to portray myself as some financial saint because, well, a responsible woman doesn’t rack up $13k in credit card bill, does she? It’s just that it seems I’m often out of sync with my friends as to what we’re willing (or able) to spend for entertainment and non-necessities.


I have a nagging feeling that SA considers me a self-righteous cheapskate since I don't buy unnecessary stuff and I don't share her enthusiasm about her purchases.

But there is a distinct difference between cheapness and frugality isn't there?

Do other people have problems with self-restraint being misperceived as cheapness and/or self-righteousness?

Car Wash Dilemma

According to a 2005 survey by the International Carwash Assn., nearly two-thirds of motorists nationwide used carwashes, often going four to six times a year. In car-obsessed Southern California, the numbers might be higher. I'm no exception. (I live in an apartment complex and I have no access to a water hose to wash my own car.)


I just recently got my car washed for $6.99 with a coupon and I wonder whether I shouldn't have. This March 23, 2008 Los Angeles Times article still haunts me.

The Times' investigation found:

Hand carwashes – automotive beauty shops patronized by tens of thousands of Southern California motorists every day – often brazenly violate basic labor and immigration laws with little risk of penalty.

Half or more of carwash owners flout the minimum-wage law, estimated David Dorame, the longtime lead investigator for low-wage industries at California’s Division of Labor Standards Enforcement.

...

From Santa Monica to Westwood to Koreatown, many workers said they received only tips for some or all of their shifts. Labor division inspectors estimated that about 10% to 20% of car dryers are not paid by owners.

“Tips only” is a requirement for some new workers until owners are satisfied that they can properly dry a car, laborers said. Their take is typically $10 to $30 a day.

In the same article, an owner of a legally operated car wash complained that operators typically run on 8% to 10% profit margin making it very difficult to compete with illegal operators. Even with fines, illegal operators save thousands of dollars by breaking labor laws.

The owner of the legal carwash has this advice for customers: Shun carwashes that offer a complete cleaning, inside and out, for as little as $5.

When it comes to carwashes, my frugality competes with my desire to have workers be paid minimum wage (regardless of the worker's immigration status). I wonder whether the owner of my carwash is able to offer such a cut-rate price by stiffing his laborers? (The carwash normally charges $11 without a coupon. But I am assuming that most of the patrons use a coupon since it is issued pretty regularly in the Penny Saver.)

I guess I could have asked the workers, "Are you being paid minimum wage?", but I chickened out. Also, as the article indicates, many of these workers do not want to discuss their wages for fear of retribution.

I justified my most recent trip with the fact that I tipped generously (i.e., $2 to the vacuum guys and $8 to the dryer = $10 total). (According to this tipping etiquette website, I'm only required to tip about $2-3 for my car.)

But this doesn't change the fact that if the owner is indeed underpaying its laborers, I've just helped keep an illegal operation afloat. (Of course, if the employees are paid minimum wage, I'm working myself into a tizzy for no reason.)

Also, patronizing a more expensive car wash does not guarantee that laborers are paid minimum wage either.

I want to do the right thing but I also don't want to pay more than I need to for a clean car. I just wish there was an easier way to balance my competing needs.

To Beer or Not To Beer?

For the past 6 months, I've been recycling cans, bottles and newspaper to earn beer money. I just recently recycled stuff I've been collecting since 8/27 and earned $9.92. Not too shabby for stuff I was going to throw out anyways. :-D

Many PF bloggers throw this kind of extra income into their "snowflake" jar. I wondered whether I should start snowflaking my recycling proceeds?




Since it's an election year, I've decided to let my readers decide! (Please cast your vote on the sidebar.)

Query: Should I buy beer with my most recent recycling proceeds?

Like the official voter information guide we get in the mail, I've decided to provide a Pro and Con argument for this vote.

A YES vote means I get to enjoy an occasional ice cold beer. I used to drink a bottle a day, but I've cut out beer from my regular budget. For the past 6 months, I've only bought beer from my recycling proceeds. The last six-pack of beer I bought was in August and I still have 3 bottles left. A "yes" vote will promote mental relief and happiness (albeit very briefly).

A NO vote means I will put most recent recycling proceeds into my savings. I don't have enough money in my emergency fund to last me more than 3-4 months. I have over $120,000 in debt and I may be laid off next week. Beer is an extravagance I cannot afford right now. A "no" vote is a vote for fiscal responsibility.

I haven't cashed my recycling voucher so I won't be tempted to spend it before the vote is closed. Viva democracy!