Credit card requirements easing.

The good news: Banks have lately made it a bit easier to get a credit card.

The bad news: Banks have lately made it a bit easier to get a credit card.

According to the Federal Reserve’s new quarterly survey of bank senior loan officers, nearly 15 percent of large banks and 25 percent of other banks have eased the required minimum credit score in the fourth quarter of 2021. This trend is likely to continue in 2022.

Notice that not all banks are doing this. Notice, too, that I said it’s both good and bad news.

The relaxing of standards could help people who don’t currently qualify for credit, or who qualify only for cards with lousy interest rates and lots of fees. Getting a legitimate card and using it carefully can help them build their credit history. Without a solid credit history, you’ll pay more than you must for things like car loans, vehicles and insurance.

The idea is to get the best possible card and, more important, to have a plan to build credit, not create debt. That’s the “bad news” part: Being able finally to get a card could harm someone who doesn’t have a plan in place. A credit card is not the ticket to the good life, with zero consequences attached. It’s a tool, and like any tool it can be used for good or for ill.

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Low/no-spend February: Week 1.

It’s been a quiet week in Lake DebtBeGone* – which also happened to be the first week of the no- or low-spend February challenge. It was fairly easy to manage because I barely went anywhere. Since I don’t shop much online, it was pretty easy to avoid spending.

Not that I avoided it entirely. Tuesday, Feb. 1 was “Senior Tuesday” at Fred Meyer, a hot date for DF and me. That’s where the “low-spend” part comes in: Pretty much everything we bought either had an extra 10 percent off because it was a store brand, or because we had a coupon, or both. We found some screamin’ deals on meat, paying $2.49 a pound for 91 percent lean ground sirloin, $2.87 for a pound of breakfast sausage (DF eats meat and eggs before heading off to ski) and $1.92 for a pound of organic ground beef (manager’s special/store coupon/Senior Day trifecta).

Those prices may not sound rock-bottom to you, but we live in the home of the Alaska Gouge and we were just delighted.

On the way to the checkout line, we saw frozen turkey breast for 99 cents a pound. Grabbed one of those, too, and today it made the most marvelous midday meal – and it was frugal to boot:

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Low- or no-spend February starts tomorrow.

Just a heads-up: Beginning tomorrow, we start the no- or low-spend February challenge. Given the comments I received on the original post, some of you are as intrigued as I am by this chance to look closer at your spending and, if need be, to get control of it.

This time around we’re doing “low-spend” as an option. I want to encourage people to do their best not to spend – but I also want them to let it go if they do have to spend.

Your teenager has no control over whether they grow out of their shoes next month, and your car isn’t going to wait until March 1 to break down. As thoughtful as those things would be, life isn’t perfect. It doesn’t conform to our expectations. (I expect most of you know that already.)

As I noted in the original piece, it’s more of a “spend-super-intentionally” month. The object isn’t privation. It’s innovation, and it’s discovery. How can we come up with clever workarounds vs. spending on autopilot? And just how much do we spend while we think we’re being frugal?

Also as noted: We’re going for mindfulness, like masochism. You can still buy stuff. Heck, you can even buy stuff you don’t technically “need,” as long as you keep the low- or no-spend February club rules in mind: 

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Valentine giveaway: Alaska-made jewelry.

Welcome back to the “support the local economy” giveaway series. This time around, we’re going for a Valentine’s Day theme. Specifically, a trio of heart-shaped earrings made by Cypher Alaska.

That’s the business run by my friend Linda B., who started out with freeform bead-weaving and has added things like traditional beading, resin capture and metal work.

Once she picked up a bunch of flashing at the Habitat ReStore and turned pieces of it into jewelry (Linda has quite the collection of shapes and punches). Then there was the time she purchased a piece of copper piping at the home improvement center, capped both ends and beaded around the middle.

What I’m giving away this week is a bit simpler, though. Three winners will each get a pair of hammered metal heart-shaped earrings. From a distance, these things look like just metal hearts. When you get up close, you can see they bear multiple divots that add texture to the metal.

That’s not a bad metaphor for Valentine’s Day, or for love itsownself: After all, many a heart has been dented in the name of l’amour.

If you’re lucky, that never happened to you because you met The One and immediately paired up. Or maybe you escaped a heart-hammering because you have the ability to shrug over a lost love and say, “Plenty of other fish in the sea.” Or possibly you don’t have much interest in the whole love thing from the start, living just as long and dying just as happy without romance (shout-out to the aro folks among us).

But back to Valentine’s Day. If you’re interested in gifting a pair of shiny earbobs to your Valentine – or to yourself – on Feb. 14, read on to see the goods and enter the drawing.

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Found money and hunger.

As regular readers know, I pick up coins (and sometimes bills) all year long. The found money goes into a vase my daughter got from the free box at a yard sale when she was little. At the end of the year, I round up the amount and donate it.

Last year my found money take was pretty paltry: just $5.88, probably due to the pandemic*. For example:

Work slowdowns/job loss might have made some folks more apt to pick up those quarters they dropped. When times were better, they just let ’em roll.

People weren’t shopping in-person as much, for fear of contagion. Fewer shoppers means fewer chances for dropped coins.

And since I spent a whole lot of 2020 hiding away from the invisible** threat, I wasn’t in the stores much myself.

To some extent, those things were still true in the past year. In addition, the country has been plagued by a coin shortage in stores and banks so folks were using less cash. Maybe that’s why I kept thinking that 2021 was going to be another low year for found money. Imagine my surprise when I counted up: The vase held $10.11 – almost 72 percent more than in 2020.

Generally I donate the rounded-up amount either to Feeding America or the Food Bank of Alaska. This year, however, I’m going to focus on hunger in the rural town where I grew up. 

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Join us for a no- or low-spend February.

The first time I suggested this, back in 2019, it was simply a no-spend February. Given the current economy, I propose to make things more inclusive with a “no- or low-spend February.” This welcomes everyone, including those who might have reasons why they can’t just quit  buying.

Besides, this exercise doesn’t mean “stop buying anything at all for 28 days.” Of course you can still put gas in the car or fresh produce in the fridge.

As I said back in 2019, a no-spend month is really more of a “spend-super-intentionally month” – and I’m confident that readers of this site are up to that challenge.

Some of you already have to spend super-intentionally, all year round, due to issues like underemployment, health conditions, family financial crises or, lately, inflation. Other readers spend carefully in order to meet specific goals: minimalism, sustainable living, giving to causes they believe in, early retirement and the like.

Whatever your reasons for being careful with your dough: Who’s in for a no- or low-spend February?

It’s pretty simple. Instead of spending the way you normally do, you interrogate your purchases: 

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Monday miscellany: Get a second opinion!

My daughter almost spent way more than necessary for some work on her home. Way more. But the lights were flickering pretty seriously and the electrician – who was recommended by a handyman company she’d used – said some pretty scary things. Scariest of all was the price: $8,300 for three different issues.

Years ago, Abby’s Seattle home caught on fire due to a panel that short-circuited. So you can see why she’d want to get any electrical issues fixed, pronto.

Usually a cautious woman with regard to researching costs and always looking for the best deals, this time she panicked and put down a deposit.

Thank heavens for friends in smart places: Her pal Andre, who’s an engineer, said that cost sounded high to him. A consultation with his friend the electrical engineer proved him right. Abby got another electrician in, and what do you know? During the troubleshooting call ($186), he got everything squared away. And as is her wont, she wrote about the situation: “Why you should always always always ALWAYS get a second opinion.”

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Giveaway: Artisan felted mittens from Alaska.

Happy New Year, belatedly, and time for another “support the Alaska economy” giveaway. This time around, the winner gets to pick from among six pairs of artisan felted mittens.

Given how cold it is in so many places right now, who’s up for some wearable art? 

These mittens are outstanding: both beautiful and practical. They’re funky-stylish outside and unbelievably soft and cozy inside. 

The artist who makes them, Sherri Stein, is a retiree who spends part of the year Outside* and part of the year in Alaska. She rescues wool sweaters from secondhand shops and felts them until they’re soft and super-warm, then turns them into mittens with deep cuffs and interesting buttons.

Her color choices are whimsical. But as DF points out, they’re also practical: “If you lose one of these, you’ll be able to find it in the snow.”

The winner can choose from among six pairs, one of which is pictured at top left. Here are the other five options:

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Extreme frugality: Liquid assets.

 

(This is another in an occasional series about extreme frugality tactics that will save you money, while helping you live well. Here’s the backstory.)

Essayist and chef Tamar Adler has a fridge that sounds like mine. In her wonderful book*, “An Everlasting Meal: Cooking With Economy and Grace,” she describes icebox shelves of “precariously full jars and tipping-over glasses unidentifiable liquids.” [As an Amazon affiliate, I may receive a small fee for items bought through my links.]

These jars and glasses hold things like olive oil saved from dried tomatoes or jarred anchovies, leftover artichoke broth, or “the lovely, oily liquid left once a vegetable is cooked…that has collected the imprint of the good butter and olive oil, cloves of garlic, lemon peels, sprigs of thyme, splashes of wine, cracks of pepper, and vegetable that created it.”

Our fridge holds numerous liquid assets, too. So does our freezer. Not only does our extreme frugality mindset not allow us to waste food, it’s great fun to find ways to use these “potions,” as Adler calls them.

The juices that drain from purees of homegrown rhubarb or pumpkin end up getting frozen for smoothies. Last summer we canned five quarts of sour cherries; when pie-making, we drink some of the liquid (apparently it’s a superfood) and froze a certain amount to use in our second Pilgrim pumpkin pie re-enactment.

When I’m at the tail-end of a pint of home-canned rhubarb or applesauce or jam, or a jar of supermarket salsa, or even a bottle of catsup, I add a little water to the container and give it a good shake. The result gets added to a freezer container marked “vegetable cooking water,” which also collects the residue of boiled spuds or our super-sweet garden peas. The liquid is used, eventually, for cooking the contents of the boiling bag: veg/fruit peelings, cores, leaves and such. (The link explains it all.)

Our freezer generally holds three or four boiling-bag consommés, usually labeled “vegetable broth.” A few are less generic: “mostly onion and potato,” say, or “peapod broth” (a sweet green liquid that makes a superlative soup when cooked with split peas, smoked ham and a mirepoix that includes our homegrown celery and carrots).

Sometimes we don’t freeze our potato cooking water; instead, we use it to stir up that bonehead-simple, impossibly delicious rustic bread. Whey that I drain from my homemade yogurt (I prefer a thicker, Greek-style product) also gets used in this bread dough.

A splash of that whey might also end up in oatmeal, chili, stew, stroganoff or curry, and the spud water could be pressed into service for making a mess of beans. Speaking of beans: Sometimes I cook a big batch of black beans with olive oil, garlic, cumin and cayenne, then drain them for freezing – and the liquid gets frozen separately. Its robust flavor turns a more timid onion-potato consommé into one heck of a hearty soup.

Does all this sound parsimonious? We prefer to think of it as getting every last bit of nutrition from every food we cook. With inflation romping all over the nation’s grocery bills, we want to use everything about the pig – including the squeal. 

 

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S#!t my boyfriend says: The next generation.

DF is at it again. As in, he never really stopped. The man never met a word he couldn’t play.

He cannot help making terrible puns, and I cannot help writing them down.

Some of them, anyway. Some are a bit too risqué to share, and others are so obscure it’s too hard to explain them in print. The fact that I understand them myself clearly shows that he and I were made for each other.

Every so often I publish a collection of them, inspired by the “Sh*t My Dad Says” books/Twitter feed/television show. [As an Amazon affiliate, I may be compensated for items bought through my links.] Each time, I can hear the groans of anguish (and sometimes admiration) from my readers, yet I can’t stop posting.

Sorry/not sorry. Some of these things are too good/bad not to share. This is your cue either to run screaming from the virtual room, or to stick around and be amused/buffeted by the volume of nonsense that the man emits on a regular basis.

Me, I can’t get enough of them. You, however, have been warned. 

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