The Frugalista Files

Latrell Sprewell's Home Foreclosure

The home foreclosure crisis is hitting people of all economic backgrounds. Ex-NBA star Latrell Sprewell home was foreclosed, according to this story in the Milwaukee Journal Sentinel. I emailed the author of the article, Marie Rohde, and she said that in a few weeks, Sprewell's home will go to a sheriff's sale if he doesn't come up with the full amount he owes.

According to the story:

The holder of the mortgage, RBS Citizens Bank, told Milwaukee County Circuit Court Judge David Hansher that Sprewell owes $320,284. According to River Hills records, the house is assessed at $610,000 and has an estimated fair market value of $667,980. Sprewell bought the house in 1994 for $405,000.

Once upon a time, Latrell scoffed at a $21 million contract extension. My how things change. I hope he doesn't feel the need to lash out.

Well, to end on a positive note, Essence magazine has these five tips on how to stop wasting money.

Do you feel bad for millionaires who squander their fortunes and end up broke? What do you think about Essence's tips for being frugal? I'm not so sure I want to give up my gym membership, although I don't use it like I should. What are some of your frugal tips? And should sports agents start linking to The Frugalista Files in contracts?

Thanks to Product Junkie Diva for the tip!

Pinch at the Pump

I read two interesting posts over the weekend about people using bicycles and public transportation as the preferred method of travel. I concur! If I didn't need my car to chase down stories for work, I would get on the band wagon.

On my own, I walk a little bit more to the store/bank and I think about whether I REALLY need to take a drive to go some place. Still, I feel the "pinch at the pump." To fill up my ride it's $53. When I first got the car, it was about $30 to fill it up. Meh.

Here are some fuel-efficient cars. I'm not in the market for a new ride, and I think the Prius' are a little pricey for my budget. But then again, with more people considering fuel-efficient rides, maybe prices could go down. It would be nice if South Florida could get a public transportation system like Washington, D.C. or Chicago. I'm over vehicles.

What's it like where you live? Do you own a car? How much does it take to fill up the tank? Are you taking public transportation more? Are you riding  your bike or walking more?  Tell me all about it.

*Don Tate III AMERICAN-STATESMAN ILLUSTRATION

Freebies for the Week

Big business is warm and fuzzy this week.

On Tuesday, Haagen-Dazs is following in the ice cream freebie tradition and giving away its new flavor, Vanilla Honey Bee from 4 to 8 p.m. The company created the flavor to honor  honey bees that are now disappearing in large numbers. At the Haagen-Dazs Shop at 1455 NW 107^th Avenue in Miami, revelers can meet Willie the Bee Man. For more info, click here.

Dunkin' Donuts is giving out free iced coffee on Thursday. For more info, click here.      

Micky Ds is offering a free southern style chicken biscuit or sandwich on Thursday as long as you buy a medium or large drink.

 

                                                                                                                                                      Please let me know if you know of any other freebies. Thanks Lou and Afrobella for the info!

Is Hillary Clinton a Frugalista?

Presidential hopeful Hillary Rodham Clinton may be a frugalista. Seriously.  The senator is having a few money woes on the campaign trail. She's loaned herself about $11 million, and she may have to loan more. 

According to the New York Times, she will run some frugal campaigns in the future:

Clinton advisers said they were looking for opportunities to save money on campaign events in the coming primary states of West Virginia, Kentucky and Oregon. The advisers said events would be more frill-free, but they also said that the campaign was likely to go deeper into debt to vendors who design and produce her events.

When I ask if Clinton is a frugalista, it's because she's considering cutting back on the campaign trail. I don't think carrying debt is a frugalicious thing to do.

However, the Clintons don't seem to be hurting for cash in their personal lives with their big book deals and other assets. Furthermore, the family can command high fees for speeches.

Still, she's having to deal with her financial future as a candidate. Slate.com had this interesting explainer article about the fiscal ramifications that Clinton may face after the primaries.

What do you think of Senator Clinton's money concerns? Does it not matter because she's flush in her personal life? In today's society, is it possible to run a bare-bones campaign? Can money buy an election win?  If you were her, would you loan yourself that money?

For the record, I am not registered to any party.

Stamp Price Increase Starts Monday

Aw man. The price of stamps are going up yet again. I'm mini vexed about this. Why must this happen? First food, now stamps? I pay most of my bills online but not all. My checks cost $20 to order, too. I'm thinking this last stamp price increase may send me to online bill pay through my bank.  I was hesitant to sign up for it through the bank because I felt like it would wed me to the instituion. But, going to several sites just to pay my bills is worrisome, too. I'm going to stick it to the man! No more mail for me. I'm e-billing.

Do you pay your bills online? How much do you think that saves you? What do you think about stamps going up? Does the U.S. Postal Service need to realize that stamps are so, so, out of style?

Mother's Day

Mother's Day is the time of the year to honor the woman who gave birth to you. Or you can simply honor all the good women who've had an impact on your life.

But what can you get for the special woman as a gift that won't break the bank? Gift giving can be great, IF you can afford it. I'm always a big fan of planning in your budget for gifts. But even if you plan, you still may not be able to spend much money. And mothers have their own hang ups about receiving gifts, too. My friend Jeannette is a reporter, wife, mother of two and feels guilty that she asked her hubby for a $67 bottle of perfume. You can read about her frugal dilemma here.

As for Mama McNeal, she's getting an airline gift card. She's a flying granny nanny, helping out with my niece who lives hundreds of miles away. It's what she wants.

My affordable gift idea is writing an appreciative letter. I wrote my grandmother a letter once. I never saw her so happy. Here are some other gift ideas.

Is it possible to give a gift that's frugal yet shows how much you care about someone? What are you giving the special moms in your life for Mother's Day? Is it O.K.to not give a gift on Mother's Day? Do you have any good, affordable gift ideas?

Free Concert at The Delano *update*

Hi. The free Jose James concert at the Delano on Miami Beach is May 28. I thought it was sooner, but it's not. Click here to RSVP.

Guest Blog: Advice for People Recently Laid Off

Meg Green, a certified financial planner at Meg Green & Associates and a Sunday business columnist at the Miami Herald, is guest blogging today about how to handle your finances if you are laid off.

*MEG'S TIPS*

1.  Check on your eligibility for unemployment benefits and apply immediately. Any individual who has been employed in Florida in the last 18 months and is currently unemployed or partially unemployed can file a claim. If eligible, your benefits may start the second week of unemployment. Call 1-800-204-2418 for the Claims Assistance Center.

2.  Consider working for a temp agency until a match for you is found. Or look for spot jobs, like baby sitting, tutoring, substitute restaurant server or receptionist, dog walking, to help keep you afloat. This way you will keep money coming in the door but have flexibility if you get interviews.

3. Sell things you no longer want or need, like old jewelry or Grandma’s clock. With the prices of gold and diamonds so high, you’re bound to clean up. Try Ebay for your stuff…even old clothes and shoes, if in good shape.

4. Review your living expenses and reduce/eliminate discretionary spending until a job is secured. This means eating in, making instead of buying presents, whatever your creative mind can come up with to save. Pull in the belts, and make it a family affair. It’s no secret you’ve been laid off. Don’t hide it from those that have control of your wallet and credit cards, like spouses and kids. Everyone needs to tough it up temporarily.

5.  Have your resume reviewed by a professional service. This often gives the biggest bang for the buck as your resume is your first impression. Be flexible in what you’re looking for. The ideal career job may be elusive right now, so consider whatever you can (legally) do and go for it.                                                                        

6. As a very last resort, consider a hardship withdrawal from your 401k, but leave that for last.  And try to avoid borrowing from friends and family. It’ll be so difficult to pay it back once you’re up and running, and that’s the best way to sour relationships.

   

  Try to make this time as stress free as possible by being open and up front with people. Exercise, walk the park, swim in the ocean, keep yourself healthy and fit. It’s good for you, your family and your new employer! Good luck.                                                                                                                                                                                                          

Urban Foraging with The Frugalista Files

Do your friends know how much you make?

My brother-in-blogging Keith at $ out of $.15  posted a New York Times story  about how young professionals are more apt to know the salaries of their friends. Yikes. I think that's a touchy topic. Now, for most of my media friends, I have a ball park figure of their salaries. I don't disclose what I make to my friends or family, but I think everyone has a clue. I am eligible for an economic stimulus payment; so, I'm not a millionaire. I have told my mentors what I make. I always seek their advice during salary negotiations. I know a reporter whose friend at work told her how much she made. It turned out to be WAY more than what the reporter made. The reporter marched up to management, pleaded her case and got a raise. Sharing salary information can have its perks.

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