Mighty Bargain Hunter

Welcome to the Festival of Frugality

February 19th, 2008 | by mbhunter |

If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!

Yesterday was the observation of President’s Day in the United States. Since Benjamin Franklin, one of the most oft-quoted sources on thrift and frugality (except maybe the Bible) was quoted as saying “a penny saved is a penny earned,” and since a cent back then has about the same purchasing power as a dollar today, it seems apt, in a convoluted sort of way, to highlight some of the new Presidential $1 Coins in this Festival of Frugality.

(That, and I think the new coins are cool.)

The first five posts are my favorites from this week’s submissions. The other posts are listed in chronological order, earlier submissions first. The coin images are public domain from the US Mint, and the little coin-legislation snippets about the featured presidents are from information on the US Mint’s site.

George Washington (served 1789-1797) saw the founding of the Mint during his presidency. The Mint was established in Philadelphia with the Coinage Act of April 2, 1792. The original coins’ values were related directly to their metal content, be it gold, silver, or copper. About a month later, a law authorizing the purchase of up to 150 tons of copper to produce cents and half-cents was passed.

• Cheap Healthy Good posts an extensive guide on choosing a good cookbook.
• Savvy Frugality shares ten lessons from his own experience being thrust into a one-income family situation.
• Mommy Gets Paid writes a great top ten list for getting the most bang out of your coupon buck.
• Millionaire Mommy Next Door has a great post on being outwardly simple and inwardly rich.
• Is poor record-keeping costing you money? The Personal Financier lists a number of good tips for taming your paper.

John Adams (served 1797-1801) served as vice-president during Washington’s presidency. An act in 1793 allowed foreign gold and silver coins to be accepted as legal tender in the United States. On February 1, 1798, another act suspended this allowance for a period of three years, effectively making the US coins the sole legal tender.

• For all of the dedicated drinkers out there, Money Clipped advocates replicating the bar scene at home by building your own bars and wine racks.
• Frugal Freedom puts forth the question whether Forever Stamps are better than a savings account.
• “Being organized and knowing what you have can save you money,” says Laura Williams as she gives the schedule for her family’s day, homeschooling and all.
• Sense to Save proclaims that there will be no more deprivation in the name of frugality.
• Savvy Skin gives a few tips on looking fabulous on a budget.
• Wenchypoo compares working outside the home and staying at home. (Almost seems like a decent deal to stay home.)
• This Wasn’t In the Plan overcomes house envy — even new furniture envy — by performing a few simple steps, and avoids a lot of expense for now.
• Though buying in bulk can save money in some instances, Free Money Finance reminds us not to assume that large quantities are always better.

Thomas Jefferson (served 1801-1809) saw the continuance of the location of the Philadelphia Mint enacted into law. The suspension on the legal tender status of some foreign gold and silver coins was repealed, and penalties for counterfeiting US coinage were established.

• Not the Jet Set lists five good ways to get stuff for free.
• Debt Reduction Formula passes on a study on how people spend their money, broken out by income. There are likely some interesting frugality patterns in here.
• Truthful Lending elaborates on another good reason why you should have plenty of money in your bank account to pay your bills.
• Quest for Four Pillars observes that frugality and low prices have their costs.
• Funny about Money extols the virtues of buying second-hand. (Agree 100% here!)
• The Honest Dollar shares a money-saving grocery-shopping hack. (If you’re not within walking distance of your supermarket, I suppose you can not take the cart to your vehicle.)
• Clever Dude illustrates a PB&J assembly line that would make Henry Ford proud.
• Wiggly Wigglers offers up ways to consume dandelions, which many of us get for free in our yards whether we want them or not.
• Chief Family Officer points out a trick to stay on top of your billed services: Read the inserts!
• Greener Pastures passes on an article with a couple dozen freebies.
• Rather Be Shopping comments on a list of the five best and five worst items to get at Costco.
• Cheapo Groovo updates a couple of short posts with do-it-yourself and auto tricks.

James Madison (served 1809-1817) saw as president legislation of an act authorizing certain gold and silver coinage from foreign countries as current and legal tender within the United States, specifically from England, Spain, Portugal and France. The Act also called for an annual recording of physical characteristics of such coins. The Mint continued to reside in Philadelphia.

• Be Thrifty Like Us reminds us that brand-spanking-what-you-have is just fine.
• Stop the Ride! practices frugality by doing things the old-fashioned way.
• Cheap Canuck advocates borrowing and lending your stuff with people to accomplish frugality.
• Sound Money Matters gives directions for freezing bread, herbs, and sauces.
• College of Cash started eating the end slices to save some bread on bread. (I actually started doing this recently, too. Why not?)
• Daily Money Hack suggests trying out restaurant week (if available) to enjoy the finer things on a budget.
• Blueprint for Financial Prosperity thinks it’s a good idea to take advantage of education reimbursement. (Big money-saving opportunity there.)
• Mardi Gras and frugality? Impossible you say? Prime Time Money reveals all.
• Being Frugal’s clutter is making her fat. Find out why.
• Lazy Man and Money discusses a financial interview with frugal Sarah Michelle Gellar. For every celebrity that goes overboard, there is probably at least one that has a grip on her finances, like Gellar.
• The Great Money Challenge talks about the factors needed in a Roth IRA. I like this list, and it’s well worth thinking carefully about where to invest. Even though the IRA is tax-advantaged under certain circumstances, capital appreciation is still important.
• Wondering whether to pay down debt or save? They’re both frugal options, but with certain kinds of mortgages, it may not be clear-cut. Salt Lake City Money Blog discusses a few situations related to FHA loans.
• My Two Dollars has a green post this week, with five inexpensive, relatively necessary things that will help the environment. I didn’t know that yogurt cups could be used in toothbrushes.
• Depreciation kills. Early Retirement Extreme discusses how to minimize the depreciation you have to eat.
• If I Were Debt Free shares a letter to a reader about being frugal with a purpose.
• Money Blue Book compares using a local florist to order flowers versus buying them online.
• Looking for that big-ticket item? Digerati Life lists twelve ways to go about affording the big stuff.
• Paid Twice suggests grabbing Cupid by the bow and planning for next year’s Valentine’s Day. Avoid the horrendous markups by shopping the clearance racks.
• You can make your own higher-markup dairy products from the cheaper ones, according to The Sojourner. Neat!
• Unclaimed Money passes on a few tips on how not to waste food. (I’ve heard chickens are pretty low-maintenance, but haven’t tried that.)
• Saving your receipts (and looking at them!) is a good catalyst for stepping up your frugality. Money Ning talks about the sticker shock when he did this.

James Monroe (served 1817-1825) saw the enactment of the Mint Act of February 2, 1820, that moved the official home of the Mint to Punxsutawney, Pennsylvania. (Just kidding.) The Mint, alas, remained in Philadelphia, much to the relief of groundhogs across the state.

• Mrs. Micah, a very frequent commenter on this blog, suggests ways to increase the quality of your life for less.
• Pleasures don’t have to be complicated or expensive. My Wealth Builder shares a few.
• Money and Values discusses some criteria for making frugal choices for over-the-counter medicine.
• Dollar Frugal thinks that going out to lunch on anything but special occasions is out of the question. Saving for retirement is much easier if you’re able to stick to your guns like this.
• Single Guy Money advises bartering to save money. Ironing for checkbook-balancing, anyone?
• How do high oil prices relate to frugality? Check out Item #19 in this post by Currency Trading.
• The Wastrel Show has no credit history, due in no small part to a frugal lifestyle.
• No Credit Needed debates the pros and cons of paying up front for a discount on dish service.
• Aspire 2 Wealth isn’t much of a gift-giver, but his wife is. What to do? Frugal vs. Not Frugal? Cheap? Discuss.
• A Dollar a Day puts this one out, casting frugality to the wind: What unnecessary expense is just worth it to you?
• Small Cents went shopping today, but probably not where you might expect.
• Cheaper Than Cheap asks if frugality is actually costing you money.
• Millionaire Money Habits illustrates from personal experience just how much buying stuff on credit can cost you. Buying over time is almost never frugal.
• Batching can save both time and money. One Million and Beyond gives some examples.
• Uncommon Cents reveals the archenemy of frugality. (And an evil archenemy it is.)
• The Happy Rock always recommends asking that fees be removed in the name of lining your own pockets a little.
• The key to frugal living might just be location, location, location, according to Living Off Dividends.
• KC Lau reminds us that part of preparing for recession is frugal living.
• The Scratching Post gives a blow-by-blow of Dave Ramsey’s Cash Envelope System with some important observations. He’s had excellent results and improved levels of frugal living with this system.
• Money Changes Things’ touching ode to the handkerchief is, well, nothing to blow your nose at.
• Debt Reducer Expert’s Blog gives a guideline spending plan, and encourages you to make your own.
• SquawkFox spent “only” about C$10k to get the equipment to compete in an Ironman. That’s way less than she could have spent, though.
• Frugal Babe talks about remodeling frugally and buying second-hand home improvement supplies.

That’s it for this week’s Festival of Frugality! Remember: A dollar saved is a dollar earned.