TIghtwad Gazette I Refresher - Day 30 - April 3rd

We’re almost to the end of book one of the Tightwad Gazette series. Tomorrow will be our last reading of this book. I hope you have continued to enjoy this and I know you will enjoy the second book even more.

It has been my goal by going through these books to introduce people to Amy Dacyczyn, to encourage people to renew their quest of frugal living and to learn new ways to save via the “philosophy” of tightwaddery.

Let’s get started.

PAGE 285 – A READER QUESTION

A reader had a question about the Amway Company. Instead of trying to condense the information that Amy gave about this company, I would recommend that you go online if you are interested in Amway.

PAGE 286 – WEARERS BEWARE

A reader wrote in to say that contact lenses are not an area to be a tightwad. The reader is an optometrist and highly recommended taking good care of your contact lenses and do not take any shortcuts for the sake of saving money. She has seen firsthand improper contact lens care that resulted in infections and permanent vision loss. If you want to save money, then wear glasses instead. Amy agreed.

Health is one area that I agree that you should not try to skimp on. In the end you will pay for it. I know that there are some people on limited incomes that have to cut pills in half to take the half dosage because they cannot afford the full prescription. Anyone living in America should not have to ration their medications due to the cost. It is such a shame.

PAGE 287 – QUICKIE STREAMERS

Amy gave a description on how to make party streamers out of an 8 ½ x 11 sheet of paper. They are quick to make as I made two kinds from her simple instructions.

1. For the first one, take your paper and cut it in half lengthwise. Then cut the paper as shown in the above picture with the dotted lines being the cut lines. I cut my lines about 1/2 inch apart from each other. When you stretch it, it will look like this.

2. For the second one, instead of cutting the paper in half lengthwise, fold it in half lengthwise. Make the same cuts. When you unfold it and stretch it, it will look like this.

Bathroom door I'm refinishing.

To make a long streamer, make multiple sets and tape or staple the ends together.

While you are doing this, be prepared for your family to ask you what on earth you are doing. I will be making both of these types of streamers for our son’s graduation party in May.

PAGE 287 – THE ENERGY CYCLE

A reader wrote in to say that he takes advantage of the temperature outside when it comes to cooling and keeping some foods cold. Let’s say you’ve made a pot of chili to put in the freezer, simply cover it and set it out on the back porch to cool down so that you can put it into freezer size containers and put in the freezer. Depending on where you live, you could probably keep it outside in a container and it will stay frozen.

During the holidays, I take advantage of our “back porch freezer.” This is a big Rubbermaid container with a lid. I bake cookies and I put them in Ziploc bags and then into this Rubbermaid container to freeze. When I have a variety of cookies baked, I go to the back porch freezer and take out the Ziploc bags and sort them onto plates for giving away. I then let the cookies come to room temperature before I deliver them.

PAGE 288 - HOMEMADE WORCESTERSHIRE SAUCE

Many readers had written Amy for a recipe for Worcestershire sauce. They tested a few. The original recipe was more costly than buying it in the store. The cheaper version is only slightly cheaper than store bought.

Original Worcestershire Sauce Recipe

Tie loosely in a cloth:

1 onion, chopped
3 tablespoons mustard seed
1/2 teaspoon red pepper pod
2 garlic cloves, crushed
1 teaspoon peppercorns
1/2 teaspoon cracked ginger
1 inch cinnamon bark
1 teaspoon whole cloves
1/2 teaspoon cardamom seeds

Simmer spices in a large, heavy pan with:

2 cups vinegar
1/2 cup molasses
1/2 cup soy sauce
1/4 cup tamarind pulp or 6 tablespoons lemon

Mix in a cup and add:

3 tablespoons salt
1/2 teaspoon curry powder
1 anchovy, mashed
1/2 cup water

While spices are boiling, caramelize 1/2 cup sugar by putting the sugar in a heavy skillet and stirring over high heat. Move sugar back and forth as it starts to melt and brown. Lower heat. Move sugar continuously and keep chopping at it, breaking the lumps until it is almost black and soupy, not burned.

Take the spice bag from the sauce, squeeze, and carefully pour a little of the boiling liquid into the skillet stirring briskly until dissolved. Return the liquid sugar to the large pan. Boil briefly. Pour into a bowl, replace the spice bag in the sauce. Place in a covered container in the refrigerator for 2 weeks. Stir from time to time. Strain and bottle. Keep refrigerated or process.

WHEW - that is quite the process, but I must admit that there is something weird about me that would like to try it. But I would have to find someone who likes anchovies to come over and mash one up for me. That sounds disgusting. I do love Worcestershire sauce and I use it in cooking quite a bit. Now for the cheaper version.

The Cheaper Worcestershire Sauce Version

Put in a large pot:

1 onion chopped (or 3 teaspoons onion powder)
3 teaspoons ground mustard
1/2 teaspoons red pepper
2 cloves garlic, crushed (or ½ teaspoon garlic powder)
1/4 teaspoon ground cinnamon
1/4 teaspoon ground ginger

Add:

2 cups vinegar
1/2 cup molasses
1/2 cup soy sauce
6 tablespoons lemon juice

Mix together and add to pot:

3 tablespoons salt
1/2 teaspoon curry powder
1/2 cup water

Bring to a boil and simmer 1/2 hour. While spices are boiling, caramelize 1/2 cup sugar using procedure given in original recipe. Cook another ½ hour. Store in refrigerator. Flavor will improve with age.

I have all of these ingredients on hand except the curry powder. I am going to find a friend to lend me the 1/2 teaspoon of curry powder and I am going to try this sometime. Can you imagine if I start telling people that I make my own Worcestershire sauce? They will look at me like I am Martha Stewart or something.

Tomorrow we will finish the Tightwad Gazette I and soon we will start the second book, the Tightwad Gazette II. For tomorrow read pages 290 through 295. Remember the Tightwad Gazette II is new information and of all three of her books, the second one is my favorite. I think it really gets more into saving money and the reason is because it is based on years 3 and 4 of Amy’s newsletters when subscriptions had grown and she was being sent more ideas from her readers.

Going to Church Makes a Difference

It never ceases to amaze me what volunteering can do for a person's mood.  I'm so upbeat today after spending time with our church youth group and a youth committee planning the upcoming year.  Of course there was also our Adult Sunday School class and church service that had a great impact on me.  Then there was the 80 degree weather and a visit by our son and DIL, along with our grand dog for some conversation, laughter and somewhere in there a quick one on one basketball game.

I can't change some things in my life, but I can change how I react towards them.  I can also focus on what I have instead of what I don't.  I may not have a relationship with my sister, but I have wonderful relationships with my husband, sons and daughter in law.

What a blessed Sunday and great way to start the week.

Aging Parents and Relationships

My mom with my youngest son - July 2010

I live in Iowa.  My mother lives in New York.  My father died in 2002.  I just got off the phone with my mom.

My mom is 81 and it wasn't until 3 months ago that I started to notice that she is now being affected by old age.  We talk on the phone and usually she does most of the talking and I listen, but I have started to notice that she does not remember things or she tells me things that I know did not happen.  As an example, I told her about our upcoming trip to Washington, D.C. in June.  She asked me if I remember when I was a kid and our family went to D.C.  I did remember this.  It was 1969 and I was 10 years old.  That was one of my favorite childhood memories. 

She told me that we went to D.C. twice and I was probably too young to remember the other time.  I know this isn't true and I believe she has this "fictional" second trip to D.C. mixed up with her trip to D.C. with my dad on their honeymoon. 

Then there is the sadness of old friends of hers dying and that her "boyfriend" of a couple of years has health problems.  Driving is becoming more and more difficult for her and then there are the memory issues that are typical for a woman her age. 

It's hard seeing your parents grow old and it was hard on all of us when my father passed away.  It is harder to see my remaining parent deteriorate.  We live far apart from each other and have for over 30 years.  I fear that in a year or so, she may just give up on herself and then she will go down hill. 

The past 10 years have been hard as my only other sibling broke from our family and in essence shunned us.  My sister has nothing to do with me or my mom, nor does her husband or 3 daughters.  Worse yet, my sister lives in the same area as my mom and she could do so much more than I can do from a distance, but won't.  She has chosen to cut us off entirely and she won't acknowledge us. 

If you're wondering what happened,  none of us knows and I think it is more a mental health issue than anything else.  I know one thing for sure, you can't make someone have a relationship with you when they don't want to.  So I have given up trying.  Yes, I have tried for over 10 years to reach out to my sister and she has pushed me away over and over, so I have finally given up and moved on.

But, for my mother, try as hard as she can, it is almost unbearable for her to have a daughter completely cut her off.  Worse yet, not being able to see your 3 granddaughters has been probably the most difficult for my mom to endure.  Imagine the Christmases and birthdays that pass by with my mother alone while her daughter, son in law and 3 granddaughters live 10 minutes away. 

After all of this time, it has finally affected my mother.  No matter how many phone calls I make, nor how many vacation trips I take to New York, no matter how I show my love to my mother, she still mourns for the prodigal daughter and the lost relationship with her and her grandchildren.

I wish with all my heart that I had the kind of relationship with my sister that other women have with their sisters.  I look back to my childhood and growing up years and I now see that my sister probably had some problems that got worse as she grew older.  Because she does not think there is anything wrong with her, she will never see a therapist.  Instead we're the problem.  There are situations in our lives that we have to endure because they are out of our control.  I'm not giving up but I am letting go. 

As to my mother, I can't make up for what my sister and her husband and children have done to her, but I can at least try to be the best daughter I can for her and do whatever I need to do to help her be happy and comfortable. I am loyal and I am the most empathetic person in the world.  I love my mom and when she dies someday, I can stand and hold my head high knowing that I was a good daughter and I took care of her and made sure her needs were met.  There will be no regrets on that day.

Postponing Today's Reading to April 3rd

I am postponing today's reading to tomorrow, April 3rd.  I just got off the phone with my mom and I am just not feeling up to reading tonight.  See my next post and you will understand.

Dinner Tonight - March 31st and April 1st

Last night we had an italian pasta casserole with cuban bread and fruit salad.  There was cake for dessert.  Tonight we had homemade pizza.  Normally I don't have two italian type meals two nights in a row, but my husband wanted pizza for supper and it sounded good. 

I have been buying very little from the grocery store and finally the basement freezer is starting to show that I am using up some items.  But I have really only made a small dent in it and I have a ways to go before it will be time to start filling it again with great deals. 

Tightwad Gazette I Refresher - Day 29 - April 1st

Well we are coming close to the end of the Tightwad Gazette I. Our final reading will be Sunday, April 3rd. Then what? Well, I have really, really enjoyed going through this Tightwad Refresher reading so I want to forge ahead and continue with her second book, The Tightwad Gazette II. This time it will take a little longer as we won’t be reading 10 pages at a time. The readings and postings got a little too long sometimes.

Tightwad Gazette I was based on the years one and two of her newsletter. The Tightwad Gazette II is based on years three and four. So it is additional information and not just watered down continued information from the first book. It was in the second book that she gave the recipe for Cuban bread that I use all the time. In fact I think the second book has more information and tips than the first book and it is the one I refer to the most. You can tell by looking at it as it is falling apart.

Let’s get started with today’s reading. As a reminder all of these tips and ideas came from Amy Dacyczyn and her book the Tightwad Gazette I. Any comments that I have made are underlined.

PAGE 277 – THE THREE-YEAR SNEAKER PLAN

Amy starts out saying that she owns three pairs of sneakers. This year’s sneakers, last year’s sneakers and the year before sneakers. Most days she wears last year’s sneakers unless she is planning on going out, when she wears this year’s sneakers. She keeps wearing last year’s sneakers so that this year’s sneakers stay looking good for a long time.

Amy wears the older pair of sneakers when she is doing yard work, painting the house or some other heavy duty chore.

Amy went into detail about describing the condition of the two older pair of sneakers such as they are getting cracked and the soles are separating to the point that you can see some of her sock.

The purpose of this plan is that she always has 1 good looking pair of sneakers. She also does the same thing with blue jeans.

My husband operates on the same plan with his expensive running shoes. He has two pair of running shoes (Asics) at a time for running. He alternates these shoes wearing one on day one and the other on day two and so on. When these running shoes are no longer suitable for running (after approximately 500 miles), he replaces them. This ends up being a new pair of running shoes in the spring and then another pair in the fall. This is how he always has two suitable pairs at a time.

When they are no longer good for running, then they become the shoes that he wears around the house and on weekends with jeans and so on. Then when they become no good for even this, they are designated lawn mowing/yard work shoes. When the day comes that they cannot be worn at all, he throws them out. It is almost like a funeral when that happens as he loves his running shoes.

My husband is very careful not to wear his running shoes for running after they have worn down, as that is how you can end up with knee or hip trouble.

PAGE 278 – LITE MARGARINE

A reader wrote in to say that she makes her own lite margarine. She takes 1 pound of regular stick margarine. After it is softened slightly she gradually adds skim milk by beating it in with an electric mixer. Adding the milk slowly she can add about 1/3 cup milk to the pound of margarine.

The result is a light spreadable product that has increased in quantity by 50% and it stays soft in the refrigerator, tastes the same and has few calories.

PAGE 279 – REJUVENATING SECONDHAND TOYS

Parents and grandparents need to get it out of their head that there is something wrong with secondhand toys. My thought is that if your child has an older sibling, they have been playing with second hand toys their entire life.

If you pay full price for a “hunk of plastic” and it breaks within a week, it hurts. If you buy that same toy at a yard sale for 25 cents, you’ll breathe a sigh of relief.

Kids receive about 10 times their weight in toys before they reach kindergarten. Many of those toys end up in the landfill over time. If you’re pinching pennies or just a tightwad, second hand toys are a great option. Many toys can be rejuvenated simply by washing them in soapy water.

If there is a good yard sale with some toys with missing parts, take a chance. You may find the other parts at other yard sales.

I went to several garage sales in a day with my mom and sister once, when we were on vacation no less. At one I found a Fisher Price barn but there were no other parts. I picked it up for $1.00. At the next garage sale I found a couple of the animals, then at the next I found a tractor and before you knew it by the end of the day and for another $2.00 I had a lot of Fisher Price farm people, animals, gates and machinery. Actually I think if at the first garage sale they would have had all of the pieces I would have had to pay more for the complete set. This way the parts were in small quantities at a lot of garage sales and were either a nickel or a penny.

Wooden toys have great repair possibilities. They can be sanded and repainted. Amy found a wooden doll high chair with a broken leg in a trash heap. She brought it home and her husband took an old croquet mallet handle and fabricated this into a new leg. He sanded off the stripes and refinished the doll chair and it looked practically new when he was done.

Many times game boxes are beat up when the contents are new. Amy avoids buying second hand stuffed animals as if they are worn it is hard to make them look new.

An old bike can look great with a new paint job. The same is true of a wagon.

PAGE 282 THE PLASTIC JUG IRRIGATION SYSTEM

This is the Tightwad version of a lawn sprinkler.

Supplies needed: 1 gallon well rinsed out bleach jug (make sure the end will thread over the end of a garden hose), cut piece of old rubber glove finger, scrap wood and a garden hose.

Amy’s husband took some scrap wood and made a small little platform. It needed to be 3 inches high. After the platform was built, a hole that was large enough to hold the garden hose was drilled. Slip the old rubber glove finger over the end of the hose to improve the “snugnicity” of the hose. Resting the garden hose on the lawn, bring the end with the old rubber glove on it up through the hole until the threads of the hose show through the top of the platform. The rubber glove finger should hold the hose snug and in place.

Amy’s husband took the bleach jug and drilled about a dozen holes in the bottom of the jug with a 3/32 inch drill bit. Then he fit the top of the jug over the threads of the hose (yes the jug is now upside down) and turned it until it was threaded in place onto the hose.

What you are left with is an upside down bleach jug attached to a garden those that are held upright in place by a wooden block platform.

When they turned on the water, the plastic jug sprinkler shot water heavenward in a seven foot arch.

PAGE 284 – THINK HEAT

If you live in the country and have to purchase your heating oil for your tank at one time, knowing when to purchase it can be like trying to play the stock market. Where Amy lived she did some research and found out that sometime between July and September is the best time. If she filled up her 275 gallon tank in the summer, she could save (in 1992) $55.

They also burned wood and found that wood prices were pretty much the same year round in Maine where they lived. However, she noted that you could still save money if you provide some of the labor.

For April 2nd, read page 285 through 289 and then we will finish the book on April 3rd.

Is Advice from TV Financial Advisors Realistic?

I have listened to several financial advisors on TV programs over the years. In the past year they have been preaching the same mantra: Get at least “X” amount of months’ expenses in an emergency fund, you need to have “X” amount of money saved for retirement and do not depend on Social Security nor your spouse for retirement money.

I don’t subscribe to any one financial advisor. I listen to Suze Orman and David Bach and Jean Chatzky. I am going to co-lead Dave Ramsey’s Financial Peace University at our church in two weeks. I don’t take one person’s advice and call it gospel. In fact, I don’t believe in what I call “cookie cutter” financial advice. What I mean by that is I believe everyone’s financial situation is different and what may work for one person, does not work for another. I also don’t believe in a magic number for everyone (emergency fund or retirement money).

Instead I am in favor of looking at the individual and their circumstances and give advice tailored only to them. With this belief of mine, let’s look at what the financial advisors have said.

1. Emergency Fund – Each financial advisor gives a different number of months’ expenses to have saved. Some say 6 months, others 8 or 9 months. Today I heard someone on TV say that you need to have 1 year of expense money in the bank. I got a little angry when I heard this. My first thought was, okay you’re on TV and getting paid the big bucks so that’s easy for you to say. My second thought was you have given out a goal that in many cases is set too high and is unrealistic.

I do not dispute that you should have money in savings. Having money in savings for unexpected “emergencies” is a necessity. If I was approached by a couple and they asked me how much they should have in savings for an emergency fund, my question would be back to them “how much do you realistically think you can put in the bank each month for emergencies?” They would give me a number. Then I would challenge them to try and do a little more by giving up something. Perhaps they could cut back to eating out only once a week instead of three times a week and put that money in the bank.

When someone has decided to take financial management seriously and especially when they have never done that before, I would never say you have to have all of this money in savings before you can do anything else.

I am a big believer in baby steps. When you want to lose weight, you don’t immediately go on a very restrictive diet and begin running and weight lifting if you have never done any of the above before. You tackle one thing and then over time you work in fitness and other good habits. Too much change and deprivation at one time, is setting you up for failure. I feel the same with finances.

2. You need to have “X” amount saved for retirement. Many financial advisors on TV give out an outlandish amount for retirement. Every time I hear “you must have a minimum of $1,000,000 in a retirement account,” I wonder what on earth they think everyone does for a living. Yes, I know, we are all living longer than our parents and we will be living longer in our retirement years. But just what kind of lifestyle am I planning on living at retirement? Answer – the same that I am living now.

Yes, saving for retirement is important and we contribute to my husband’s retirement account. At retirement our mortgage will be paid off, we will either continue to live in our house or we will buy a two bedroom bungalow with the funds from the sale of our present home. We will go to being a one car family at that time and we will continue to take 1 or 2 vacation road trips each year.

3. I am a member of AARP. Social security, no matter what the hype, will be there for me and my husband at retirement. If my husband and I wait until 67 years of age to collect social security (15 more years for me and 14 more years for him) we will receive $3,700 in monthly benefits. We can live on that easily but the one thing that will cost us will be our supplemental health insurance. Otherwise, we will be able to maintain our current lifestyle on social security alone. We have crunched the numbers and have added in for inflation.

4. If I outlive my husband, I will get social security survivor’s monthly benefits, my social security monthly benefit, life insurance money and the balance of his retirement money.

Everyone has a different financial situation and everyone has to look hard at their finances and make plans and set goals. Just as God made us all different, so are our financial circumstances.

Setting high goals of 1 year of expenses in the bank for an emergency fund and needing a minimum $1,000,000 in the bank for retirement can be overwhelming to someone who is making $46,000 a year. ($46,000 is the median household income in our county.) Instead we should be looking at the individual and at what is reasonable for them to save for an emergency fund and for retirement.

So why am co-leading a David Ramsey seminar?  Because I believe in David's basic premise and I also know that I have skills beyond the seminar to teach others how to save money.  It's not enough to say that you need to cut back on your expenses.  We need to also teach people specific ways that they can do exactly that.