Posted: December 27th, 2009 | Author: Kimberly McCaffery | Filed under: Money | 1 Comment »
Americans are saving more and consuming less. The Washington Post reports The savings rate in October reached 4.4 percent, up from 0.8 percent in April 2008. Since 1959, the personal savings rate has hovered around 7 or 8 percent, reaching its zenith in May of 1975 when we hit 14. 6 percent.
So the good news is, personal savings is increasing in spite of record low interest rates. The bad news is, personal debt has gone up precipitously making the recent bump in savings less meaningful. It’s not enough to save, we also have to decrease debt.
My personal goal for 2010 is to start paying down my mortgage debt, and saving 10 percent of my income. Anyone out there have a personal savings goal for 2010 they would like to share?
Posted: December 3rd, 2009 | Author: Jen Laskey | Filed under: Dining | Tags: Italian pasta recipe, la cucina povera, Pasta with acorn squash and anchovy sauce, Piemontese pasta | 1 Comment »
In Italy, la cucina povera is a term that embraces the idea of cooking with basic farm-fresh ingredients, but the original concept more or less assumed that you had your own farm, or at least a vegetable garden, a few fruit trees, and maybe some chickens or goats. These days, la cucina povera is often associated with cooking on the cheap or working with whatever ingredients you happen to have lying around your kitchen – at least this is what the idea conjures up for American foodies.
I was thinking about the Americanized notion of la cucina povera one night a few weeks ago when the only fresh produce I had left in the house was an acorn squash and an onion (I live in a neighborhood with a dearth of decent supermarkets).
I would soon be setting off on a trip to the Piemonte region of Italy, and Piemontese cuisine was on my mind. In this mountainous region, which lies on the French and Swiss borders not too far from the Ligurian Sea, anchovies are a signature flavoring. I happened to also have a jar of anchovies.
After looking through a few of the books I’d been using to research my trip, this is the Piemontese-inspired pasta I concocted for dinner:
Rigatoni with Acorn Squash and Anchovy Sauce
Rigatoni colla Zucca e Salsa d’Acciughe
Makes 4 modest servings.
1 large onion
1 medium to large acorn squash
4 to 6 salted anchovies, sott’olio (preserved in oil)
1 cup of frozen spinach (or fresh, or broccoli or cauliflower, depending on your taste and what you have available)
2 to 3 Tbsps extra virgin olive oil
1 tsp chili pepper flakes
Rigatoni pasta
Parmesan cheese, freshly grated
Preheat oven to 350˚F
Put the pasta water on boil.
Cut the squash in half, and clean out the stringy, seedy middle part.* Stick the squash halves in a baking or roasting dish with the green rind side facing down (and the orange fleshy part facing up), and bake until the fleshy part is tender when poked with a fork. Remove from oven to cool.
When squash is no longer piping hot, peel the flesh away from the rind and cut the squash into bite-size chunks. Set aside.
Salt the boiling pasta water, and add rigatoni. Cook for the recommended amount of time (usually 8 to 10 minutes).
Next, chop the onion, and begin sautéing it in a medium-sized frying pan with the extra virgin olive oil. Avoid the urge to add salt.
Rinse the anchovies under cold water to remove some of their overwhelming saltiness (don’t worry, they’ll still be salty). Finely chop the anchovies, and then mash them with a fork until you create a paste. When the onions begin to appear translucent, add the anchovy paste to the sauté. Stir and cook the mixture for about 5 minutes on low heat (be careful not to burn it).
Add the squash chunks to the sauté, stirring and tossing.
Sprinkle the chili flakes over the squash, and continue to toss.
Add the spinach to the sauté; stir to mix it in. Turn the heat up to medium and cover for a few minutes so the spinach can cook.
Remove sauté from heat.
When pasta is ready, drain rigatoni and toss in a bowl with the squash and anchovy sauce. When the pasta and sauce are thoroughly combined, sprinkle with freshly grated Parmesan cheese.
Mangia!
Regional wine pairings to consider: Arneis (white) or Barbera (red)
Non-Piemontese pairings: Sauvignon Blanc (white) or Sangiovese (red)
* Seeds can be salted and toasted for a snack, or sprinkled on top of the pasta.
Posted: November 2nd, 2009 | Author: Leora Schachter | Filed under: Dining, Fitness | Tags: calorie counters, calorie diet, calorie tracker, free diet plans, Lose it iPhone application, weight loss tips | No Comments »
Free Lose it! iPhone Application
A couple of months ago when I was visiting my close friend Jen in Seattle she gave me a frugal tip. She said, “I figured out a way to build a new wardrobe at minimal to no cost.” “Tell me more!” I replied with anticipation. Very bluntly she said, “I lost some weight.”
We had both added more than a few pounds over the extended winter and rainy spring, and I too was having trouble fitting into my summer shorts. I was inspired by her slimmer physique, expanded wardrobe and upgraded confidence. I decided to take on the challenge myself.
After years of working on health and fitness websites, I knew the basic rules: eat lots of fruits and vegetables; more protein, less carbs; and nothing fried. I had already started cooking more, but I needed more help than that. I decided to use the extremely popular and free application, Lose It!, which I could download onto my iPhone as a guide. The Lose It! application simply enables you to track your calories eaten and expended through exercise. You enter your weight, how much you want to lose over a specific time period, and it gives you your daily calorie allowance.
Keeping track of your calories is very eye-opening! I always figured olive oil was healthy so I would generously use it for cooking and salads. One tablespoon of olive oil has 126 calories. I started to measure it out, and realized I really didn’t need more than one tablespoon. I began making trade-offs. I ordered egg-white breakfast burritos at my local café, got ridiculed for it, but later was able to have a chocolate chip cookie guilt-free. I still went out and went over my daily calorie allowance often, but going all out sometimes made the other days of the week that much easier. I exercised more, but then was able to eat more, too. And now, a couple of months later, it’s all unbelievably become habit and my new wardrobe is complete.
Posted: September 7th, 2009 | Author: Kimberly McCaffery | Filed under: Work | No Comments »
I like to keep things upbeat here at Frugaltopia, so I haven’t done much blogging about the recession. But today is Labor Day, and since it’s a truly crappy day for the millions of people who’ve been laid off, downsized, or fired, I feel like I have to say something — damn this recession! For everyone out there looking for a job, this post is dedicated to you.
Motivational Posters
Posted: August 21st, 2009 | Author: Leora Schachter | Filed under: Home, Time Management | Tags: laundries, laundromat, laundry, laundry bag, laundry bags, laundry hamper | No Comments »
Laundry. I know this topic isn’t sexy or exciting. This is not about saving money but saving time because of exactly that, laundry is neither sexy nor exciting. For the last 10 years I have lived in old pre-war apartments in NYC that do not have washers and dryers in the buildings. Many of my friends ask, HOW can you live without a washer and dryer? Easily, is my response.
First, you learn to let go of the control over this part of your life, you learn to trust someone else (and pity them) to wash your smelly gym clothes. And then you do a basic cost-benefit analysis (Thank you, NYU Stern School of Business) that shows you that $.85 per pound, less than $10 – $15 per week (depending on your family size), is well worth it. (Here is where I will insert a disclaimer – kids are a game changer, where laundry can be almost a daily habit, and I can’t provide much guidance to those of you with kids!)
You must value these benefits: You don’t have to search around in pockets, purses and couches for quarters, and then spend these quarters for the machines, detergent and fabric softener. You also don’t have to hang out in a laundromat or laundry room for hours, worry if someone else is going to take your stuff out of the machine, or remember not to forget your stuff in the dryer causing your shirts and shorts to get wrinkly, and, most important, NO FOLDING!
The last tip I ever read in a Real Simple magazine recommended that you hire a cleaning person so that you can reduce stress, and I thought to myself, they just don’t get it – it’s stressful for some people just because they know they can’t afford to hire a cleaning person to reduce stress. I do get it, and the extra $5 – $10 it costs to get your laundry done will only provide you happiness and time to run your other errands, spend time with your family and friends, or write a blog post.
Here are my recommendations for having a successful laundry drop-off experience:
- Pick a laundromat that does drop-off/pick-up ONLY. You don’t want other people in the laundromat messing with machines and potentially taking your stuff.
- Round up the bill to include a tip. A tip is always appreciated and since the bill will be small, it’s okay if the tip is small, too. The tip will always pay-off in times of emergency when you need your stuff cleaned the same day, or you forgot your wallet or your receipt, or just because these men and women deserve it after cleaning your stinky stuff.
- Use a laundry bag that is recognizable. Makes life easy for you and the launderers at pick up if you can point out your bag. And if, like me, you sometimes forget your receipt, again, it makes life easier for everyone.
- Own more than one week’s worth of underwear. This holds true for do-it-yourselfers, and drop-offers, sometimes you just don’t feel like doing your laundry or taking it to the laundromat.
So release those laundry bag strings, and leave the laundry to someone else.
Posted: August 1st, 2009 | Author: Jen Laskey | Filed under: Dining | Tags: blackberry lavender gelato with bittersweet chocolate chips, frugal dessert, gelato, ice cream | No Comments »
This is my most recent experimental collaboration with my ice cream maker. The recipe makes about 2 pints of gelato.
Blackberry Lavender Gelato with Bittersweet Chocolate Chips
Start by making the blackberry lavender simple syrup to flavor the gelato.
Boil:
1 cup water
1 cup brown sugar
1 box of blackberries
Reduce the liquid to a syrup, and mash the blackberries. Turn the heat off and stir 1 teaspoon of edible lavender into the syrup. Let sit for 15 minutes, and then strain out the solids. Refrigerate.
In a medium pot, warm:
2 cups of milk
1 cup of heavy cream
Remove from heat when foam starts forming around the edges.
In a large bowl, beat:
4 egg yolks
1/2 cup of sugar
Beat them until they’re frothy, and then gradually pour the warm milk/cream mixture into the egg yolks, while whisking constantly.
Return the mixture to the pot and cook over medium heat, stirring constantly, until the mixture thickens slightly and coats the spoon. Remove it from heat. (Remove it immediately if you notice lumps starting to form.)
Strain the mixture into a bowl, cover it, and chill for several hours. When it’s cold, pour it into an ice cream maker with the blackberry lavender syrup and churn for approximately 30 minutes total. After about 15 minutes, add 1 cup of bittersweet chocolate chips and continue to churn another 15 minutes, or until thickened to gelato consistency.
Transfer the gelato to a container, seal and freeze it until firm.
And then, of course, eat it!
Posted: July 28th, 2009 | Author: Jen Laskey | Filed under: Work | Tags: economic independence, freelance, self-employment | No Comments »
This past 4th of July, Kim shared some of her thoughts on economic independence and a few weeks ago, Joelle offered some interesting financial insights through her interview with Brent Kessel (whose book, It’s Not About the Money, I’m looking forward to reading next month). Both of these posts, plus a sudden (and much welcomed) onslaught of freelance work, got me thinking a lot this month about financial security, economic independence, job satisfaction, and what kind of changes I might be able to make to create a more satisfying balance in my own life.
July has been my busiest month all year, and the fruits of my labor have required me to work around the clock, which is why I’ve been MIA on Frugaltopia the last few weeks. It’s great that I’m getting new gigs, and I’m fine with the decision I made to take on so many projects to make up for the recession-induced lack of work earlier this year. But after a month of many 12 to 19 hour days spent writing, editing, and project managing – plus working through my “vacation” – I’m left contemplating the virtues of self-employment. What’s so great about it?
My Summer Office
Maybe it’s the mildly entrepreneurial aspect of it. I like making my own hours, choosing which projects I take on and how many. I enjoy not being confined to a cubicle, and instead working from my home office, which sometimes means spending the day with my computer on my deck, or telecommuting from another location. And of course, I’m happy to skip rush hour commutes. But beyond the surface stuff, I also find my freelance work to be more fulfilling than much of the work I’ve had as a full-time employee. If it weren’t for that, I’d still be in the office.
Perhaps it’s also the perceived sense of freedom I’m attracted to, but sometimes that seems like an illusion – especially when I consider the price I pay, quite literally, as a freelancer for social security, taxes, health insurance, and the unpaid time off for my own vacations. Not to mention the fact that there’s no severance, Cobra, or unemployment benefits for the self-employed. And in times like these, when freelancers are slaves to a feast or famine mentality, it can really throw your work and personal life out of balance.
“Freedom” is the word I always equate with my decision to be self-employed, but other than the formalities of the corporate structure that I’m not bound to (i.e., strict hours, limited vacation time, etc.), there really isn’t anything genuinely freeing about working for oneself. It puts you at greater risk of being temporarily unemployed; the hours are often longer; and you have to put extra time, effort, and work into keeping your employment consistent.
I felt lucky to have consistent work the first few years I was freelancing, but this year has been a roller coaster – too little work; then, too much work. Of course, too much work usually feels like a blessing. Who wouldn’t want the extra money or the luxury to choose among the most desirable projects being offered? But it’s also a curse because turning down work is painful when you don’t know if it’ll be there again when you want need it. And if you accept it all, as I did this past month, you’re going to be holed up, day and night, for as long as it takes to finish everything, even if that means letting everything else – your relationship, your friends, your vacation, your laundry, your usual standards of personal grooming – fall by the wayside. That’s when you start asking yourself (albeit rhetorically, and in this case, publicly) why the hell you’re doing this.
When it comes right down to it, I think it’s because I’ve always secretly wanted to torture myself by being a writer. Not an editor. Not a producer. And somehow the experience of being a writer feels more authentic when I’m working for myself – even if that, too, is just another kind of torture illusion, since let’s face it, I’m not really working for myself; I work for my clients.
I suppose a career is a work-in-progress, and there is something inherently stimulating and hopeful about that, even when the economy remains uncertain and you’re worried about the possibility of your livelihood suddenly evaporating. At this point, I’m just glad that I have work for the rest of the summer (and a few things lined up for the fall) as I continue to move forward, frugally, and hope for more good fortune.
Posted: July 26th, 2009 | Author: Kimberly McCaffery | Filed under: Dining, Home | Tags: cooking with fresh produce, gardening, herb garden, organic gardens, vegetable garden, victory garden | No Comments »
“To forget how to dig the earth and to tend the soil is to forget ourselves.” – Mohandas K. Gandhi
For mother’s day, my husband and son built a small garden for me. I’d seen videos like this one, about depression-era victory gardens and I wanted one of my own.
So Mike and Aidan built a small garden bed and I planted rosemary, thyme, basil, parsley, broccoli, swiss chard, lettuce, yellow squash, zuccinni, cucumbers, eggplant, and pumpkin. Yep, all that in a 5′ x 6′ plot. And yep, I don’t know what I’m doing.
In spite of my lack of skills, the garden grew beautifully.
Kim's Victory Garden
Pumpkin seeds
I’ve got three good reasons to be proud of my garden. First, the garden is economical. A packet of seeds costs about $2.50 and and I get about $10.00 worth of produce out of each packet.
Second, the garden is good for the planet. No fossil fuels were used to harvest, ship, or sell this produce. I simply walk out my back door with my kitchen scissors and “snip,” I’ve got veggies for dinner.
But the biggest bonus is the sheer pleasure of growing my own food. I had no idea it would be so much fun. The feeling of accomplishment when I harvested the garden’s first yellow squash defies description. I stir-fried it with garlic, butter, basil, and thyme and served it with angel hair pasta. Yum.
So, if you’ve got a backyard, plant a veggie garden. If you live in an apartment, put a pot of basil on your sunniest windowsill. It will be worth it. Trust me.
Basil
Yellow Squash
Red Leaf Lettuce (left), Basil (lower left), Broccoli (right), Eggplant (upper middle)
Cucumber
Posted: July 16th, 2009 | Author: Kimberly McCaffery | Filed under: Home, Philosophy | No Comments »
image by Rusty O.P.
image by Joe-ks
If you’ve ever fixed anything yourself, you are familiar with the unique thrill–the feeling of pure elation that washes over you when you outsmart the forces of entropy. Those of us who know that feeling will understand the heroic (and hilarious) beauty of this website:
thereifixedit.com
Posted: July 15th, 2009 | Author: Kimberly McCaffery | Filed under: Money | Tags: Goldman Sachs, greed, stimulus money | No Comments »
On a crowded number 4 train last night, I was smushed up next to two future masters of the universe. They were discussing the article by Matt Taibbi on how Goldman Sachs has engineered every major market manipulation since the Great Depression (that article inspired my Independence Day post). The conversation went something like this:
Friend of Goldman employee (hereafter referred to as FOG): “Did you see that story in Rolling Stone about Goldman?”
Clueless employee of Goldman (whom I shall call COG): “Yeah that was just a bunch of bullshit rambling. I read it and was just like, whatever man, you didn’t prove anything.”
FOG: Did you see, Goldman responded?
COG: Yeah, that was amazing part because they never respond to the media. They train us not to talk to journalists. You know, the press is evil.
blah blah blah… They go on to talk about how journalists make everything up and don’t understand how finance works and they talk about how Goldman gave back the stimulus money because they never really needed it. Then COG reasons:
COG: Look, they have make money, it’s their job. And it’s not like one guy gets it all. It’s distributed over all the shareholders, so it’s fair. If there is a way for them to make money, they have to do it. They have to make as much money as they can, that’s the whole point.
I wish I’d had John Stewart with me, so that he could give them his WTF look, and say something about how making as much money as you possibly can dragged the whole world into financial ruin. Or maybe he’d say something clever about COG’s notion that the “whole point” is to take make money. Is that the point? I thought the point of banks, brokerage houses, investment firms, and other institutions that manage the flow of money, was to manage that money, not to take it. I thought they were part of system that kept businesses healthy and people employed. And I foolishly imagined that the people in charge of this flowing money, took that responsibility seriously. But now they are starting to look like greedy Augustus Gloop, guzzling the chocolate river in Willy Wonka’s factory.
Goldman, Citibank, AIG, the whole lot of ‘em remind me of a deadbeat relative with a gambling addiction. He comes around asking you for a “loan,” and gives you a sob story about how he’s on the brink of utter collapse, so you hand him $20 (sucker). When he hits the jackpot with your money, he keeps the prize for himself, and only hands back your twenty when you threaten to sue. Sound familiar? (Hint stimulus money returned, Goldman earmarking huge bonuses after posting the highest profit in its 140 year history.)
So all of this makes me think of my grandmother. When I was a kid, she would go on about how she didn’t trust banks. She would lecture me about how the stock market was a hustle, and the only thing worth investing in is real estate because it’s “real.” I always thought this was depression-era paranoia. I thought things were different and the people in charged fixed it so the depression wouldn’t happen again. I figured grandma wasn’t keeping up with the times. But now I see how naive I was, and her financial advice is starting to look solid.
So I’m ditching the 401K, and putting the money into my house (I’ll pay down the mortgage and fix the place up). Even though its value has declined slightly, the house itself still exists (unlike Bear Sterns or Lehman Brothers). And I enjoy its benefits every day (I get to live in it!). Grandma was right. I’m going to try to put my money where I can see it.
Trust FOG and COG with my hard-earned twenties…I think not.