Had a really interesting conversation with a friend of mine. She had gone to a new dentist the day before and related her experiences to me. Turns out that there are a number of things that she could (should?) have done. She expected that. When she got there, she found that like most dentist's offices, this one works with more than one hygienist. My friend was surprised with how many hygienists that were working for one dentist. The patient first sees the hygienist. They'll clean your teeth and perform an examination of your choppers. Then a trip back out to the waiting room.

Next a call back into another private room and a quick visit from the dentist. The dentist will proceed to tell you any if anything needs urgent attention. Nothing unusual there. Maybe an extra trip to the waiting room, but nothing too significant. Your dentist probably works mostly the same way. But, here's where it started getting interesting. 

The dentist suggested a couple of things that my friend might want to do. Then he left the room. Next the hygienist reviewed the options for each procedure with my friend. From the most expensive solution, down through the other choices until they got to the basic no-frills solution. Complete with visual aids in some cases! What was once a doctor-patient relationship has evolved (or devolved) into just another sales transaction.

As my friend was describing it to me we realized that the process was very much like going into a car dealership. First, the salesperson examines your needs. Then they present the different options (hoping that you'll want all the gee whiz features of the more expensive model). Next is a visit to the sales cubicles. Finally, they bring in a closer to seal the deal.  

We couldn't help but laugh over the situation. Think about it. Most people dislike shopping for cars. All the high pressure tactics. And, many people that I know have a fear of the dentist. Something about drilling out parts of your body while you're still alive! Now my friend's dentist has managed to combine the two! What a daily double!

What I really wonder is does this dentist even know that's how his practice appears to the patient? Was it a step-by-step evolution? Where every step included just a little more sales effort and pressure? Or did he attend a conference and some expert told him how he could turn his practice from sleepy to super successful? In either case, I bet he doesn't know how his patients see his practice.

Now don't get me wrong. I'm under no illusions that he's probably making more money than...well...a less aggressive dentist. There's a reason that most car dealers are known for being relentless in attempting to close a sale. The reason is that it helps them make more money.

But, you have to wonder if it's worth the price. One poll I found showed that 56% of respondents thought that dentists displayed honest and ethical standards. Car salesmen ranked in last place at 8%! That poll was from 2001 (before some of the newer dental practice techniques became common). I can't help but wonder what a similar poll will look like in a few years. 

Keep on Stretching those Dollars!

Gary 

One part of my job that I really like is talking to people about money. About two weeks ago I had the pleasure of being a guest on the Dr. Howard Gluss Show. Dr. Gluss is a clinical psychologist. I've done quite a few interviews, but this was the first one that focused on the mental aspects of finances. Had a real nice visit with Dr. Gluss. If you've ever wondered what I sound like, or if you just have about 20 minutes for some entertainment, the interview is available here. Look for segment 3 from the 4/15 show.

Keep on Stretching those dollars!

Gary 

 I don't go shopping very often. Like most guys I don't like to shop. So I do as little of it as possible. This past Saturday I spent some time in a local shopping center. While I was waiting for my son I sat back in my car and observed.

It's a fairly typical shopping center. Marshall's was the big anchor at one end. A variety of stores. I was there for the music store.

I scanned the different stores. I couldn't help but notice the tanning salon and nail salon. They were next door to each other and had similar names. Might even have the same owner. There was also a Merle Norman cosmetics store.

Near the music store was a dentist. The sign out front said "Bright Now!" I thought that was an interesting name for a dentist's office. Guess they do more dental cosmetics than dental repair.

Nearby, although not apparently connected in any way, was an orthodontist's office.

Looking around the center it appeared that about half of the businesses were in business to help us look better. Or at least feel better about the way we look.

Don't misunderstand. I like to look good and to be surrounded by good looking people. We probably all do.

But it seems strange to me that there's enough business keeping people looking good to support that many stores. I don't know what was all available to shoppers 100 years ago. But, I'd almost be willing to bet that half of retailing wasn't dedicated to appearances.

Maybe I'm being too critical. Then again, it might be a good idea to take a look at your check register and credit card statement. Separate out the items that you really needed vs those that just inhanced your appearance. You just might discover where all that missing money is going.

Keep on Stretching those dollars!

Gary

I admit that TV commercials fascinate me. What's really fun is peaking underneath the assumptions that they make. Take the latest one from Verizon. A young twenty-something man runs into a girl of about the same age. The conversation makes it clear that they knew each other in high school. The girl makes some comment about the guy being "Mr. Unwilling to Commit". She asks about the whole group of Verizon people that are following the guy. He explains that they came with his plan. And the biggest benefit is that he only pays for the minutes he uses. She comments "so you haven't changed a bit" as she walks away. The message is clear. He's still a loser because he doesn't make commitments.

But I congratulate "Mr. Unwilling to Commit". He's smart not to commit to buying something he doesn't need. I only hope that he's as wise when he buys a car. How many people sign up for 5 years of payments only to regret it half way through the payments?

Our friend might actually be a much better choice for the young lady. He's a better catch than someone who falls in love quickly, gets married quickly and puts her through a divorce a few years later. My guess is the young lady will learn that lesson herself someday.

Keep on Stretching those Dollars!

Gary 

Incoming email: 

I wondered if in your vast knowledge you would know of any honest, real work there is for stay at home moms? Not selling Avon or Herbalife, but actually taking advantage of my admin skills that I still possess. I worked for a Fortune 500 company before becoming a stay at home Mom, now I need to supplement our income and all I keep finding is scams left and right. Any ideas?
Thanks much.
Michelle

Boy, has Michelle got a lot of company. This has got to be one of the five most frequently asked questions. The good news is that yes, I have some ideas. But, the bad news is that they're not an easy 'one size fits all' type of solution.

Michelle has already framed the answer. She clearly doesn't want to do anything that is primarily sales (i.e. Avon or Herbalife) and that's understandable. Those are honest companies, but some people just aren't meant for sales. Just a different personality type. And Michelle is smart enough to avoid the scams (every time someone tells me they've been approached to stuff evelopes I cringe...).

The key is where Michelle says that she wants to 'take advantage of my admin skills that I still possess'. That's the key for anyone in Michelle's position. Evaluate the skills you have. Preferably something that requires skill, training and/or experience to master. Look for something that other people want. In Michelle's case it might be some specific part of her job (scheduling, proof reading, phone skills, etc) or the entire 'admin asst' package.

Once she has identified her skills, she can spend some time thinking of WHO can best use those skills. Specifically with Michelle working in a home environment. That might take some creative thinking. But some traditional 'office jobs' are becoming home jobs. Try to think like the employer. In one way it's a benefit for them when someone works at home. They don't have to provide office space. That's a big savings for them. So look for work that they can have done outside the office. If you find a way to help them make more money they WILL be interested.

The next step is to find companies that can use that skill. Don't limit yourself to large or small companies. Even though Michelle is used to working at a big company, she should consider how some of her skills might translate to a mom & pop business. Many of them are used to trying something new. Remember, that the worst that can happen is that you get turned down. No reason to avoid approaching them with the idea.

Michelle will also need to be creative in finding the right opportunity. It probably won't be advertised in the paper or on any of the job posting sites. In fact, there's a good chance that the people who hire her won't even know that they're looking for someone. At least, not until Michelle tells them about her idea how she can help them make more money! Yes, it will require some selling and Michelle doesn't like sales. But, it's different selling a product and selling yourself. Michelle has a product that she really believes in...herself!

Where can she find these companies? Try everything. From the phone book, to contacts in the community, to walking in on a potential employer. Talk up your idea for work to everyone who will listen. Even if you think that there's no way that they can help you. They might not be able to help. But, they might know someone who can.

It's also possible that Michelle will need more than one employer. She might need to work for two or three employers to get the hours/income that she wants.

Will it be easy to find honest, paying work? Probably not. But it is possible. More and more people are working remotely. Michelle's skill and willingness to search out a job can produce the results she wants. And, I for one, am betting that she'll succeed!

Keep on stretching those dollars!

Gary

For the first time in years, inflation is back in the news. If you've studied economics, that's no surprise to you. In an attempt to make it easy for people to borrow money, the Federal Reserve has been lowering interest rates for years. When they do that, they reduce the value of the U.S. Dollar compared to other currencies. That has the effect of raising the price that you and I pay. Especially for foreign goods. (yes, you can argue that helps the American worker, but it does raise prices)

Add to that increased demand for certain commodities (for instance, corn to make ethanol, oil and building materials in the far east) without an increase in the supply of those commodities and prices will go up. That's basic supply and demand.

But you don't need to get into economics with the typical consumer. We already know that prices are going up. I bought gas and groceries in the last week. Enough said. What we need is a solution.

Here at the Dollar Stretcher we can't lower prices for you. That's beyond our abilities. But we can show you how to substitute a cheaper product, use less of a product or find it for the best price possible. All those things will reduce the effect of inflation on your family.

And, we're going to make every effort to do just that. We'll be calling them "Inflation Fighters" and you'll find them in our email newsletters, our Community Forum and on our website.  Just look for the words "Inflation Fighter" and you'll find articles to help you deal with the inflation that we're all facing.We're also starting a weekly email newsletter with articles specifically designed to help you become a Inflation Fighter. To subscribe send an email to subscribe-InflationFighters@hub.TheDollarStretcher.com.

Here's to a less expensive tomorrow!
Gary

Saw something fairly interesting yesterday. I was sitting waiting for a stoplight to change when a cab pulled into the lane next to me. I knew it was a cab because it had a sign painted on the door. The car was a little smaller and older than what you normally think of as a cab.

Then the cab pulled forward a bit. Stenciled on its back window was "We Buy Junk Cars" and a phone number. I couldn't help but laugh. Talk about mixed messages! I didn't get a hance to see whether the phone number was the same as the one on the door. It could be that the ad was for a different company. But, even so, if I were running a cab company, the last thing I'd want customers to be thinking about is junk cars. Especially if my cars were a little older.

Seemed kind of dumb, but then again, maybe I do something similar myself. I live a frugal lifestyle except when I choose a fast food lunch instead of the sandwich fixings I have waiting for me at work. I suspect that if I think about it for awhile, I'll come up with other mixed messages in my financial life.

So maybe spending a little time looking for the mixed messages in our lives would be a good thing. Sure hope I don't find too many!

Keep on Stretching those dollars! 

Gary 

This weekend while being snowed in, I watched an interesting infomercial and immediately thought of The Dollar Stretcher.  It was for a car loan place called "Open Check".  The website is opencheck.com.   Apparently according to the infomercial and website, in just 15 minutes you can get an open check to take to a car dealer and get a new car.  The  more I watched of the infomercial, the more red flags were going up.  I went to the website and couldn't find the real story about this.  Maybe you could check into this and explain the real story about this type of car loan.  I'm guessing it's a legitimate car loan, but at some ridiculously high interest rate for 10 years or maybe longer. 
Carla

Carla,
So you were snowed in and want to know whether the real snow job is outside or inside your home. Good question.

If warning flags are going up, it's usually time to run away (and take your checkbook with you). You might miss some opportunities that way, but you'll avoid painful mistakes. You and I both know that "Open Check" is not loaning money because they think you're a nice person and they want to be your friend. They're loaning money to make even more money. And, that means that they need to get some money from you.

Now it could be that they've found a way to make the loan process more efficient and that will save you money and make them a big profit. But, it could just be a web gimmick to keep borrowers from finding cheaper loans.

I'd be very cautious. You're right. They're sending up caution flags. Their web application is very simple. But, it does ask for your social security number, birth date, address and mother's maiden name. If they were identity theives (and let's be clear I'm NOT saying that they are) that would be enough information to cause you some serious problems. Giving out that type of personal info should be done very, very cautiously. And only when you know that the company receiving the information is trustworthy. Let's assume that Open Check is an honest, above board company. The trouble is that we don't know that for sure. And, I don't see how a website can give you that confidence.

A couple of other thoughts on the subject. If you have a good credit rating and are looking for a reasonable loan amount, there are plenty of places to shop for the best auto loan. Your bank or credit union. A dealer will have options. There's no reason to go to an unknown website that asks dangerous questions.

On the other hand, suppose that you've gone to those places and they don't want to loan you the money you need for the car you want. Then what? You could try something like Open Check and hope for the best. But, it could be that the legitimate lenders have a message for you (if you're willing to listen). They may be saying that you can't afford the car that you're trying to buy. You can force the issue by finding a loan that you think you can repay. Of course, you'll be making car payments that will affect how much money you have for everything else in your life. (think of the people driving fairly new SUV's who are struggling to put gas in them now)

If you have credit problems, you might need to invest some money into repairs for your current ride. Wait a few years until you've rebuilt your credit score. That's really not so bad an option either. It's almost always cheaper to put money into your existing car than to trade it for something newer/better. Instead of making payments, you'll have money earning interest.

So until you're very sure about "Open Check" I'd steer clear of them. There's just too many ways that this offer could go wrong for you.

Keep on stretching those dollars!

Gary

Recently this post appeared in The Dollar Stretcher Community: 

Thanks to you who have suggestions and encouraging words about this pregnancy. I am pleased to have a baby come to my family, as I am one who will love, nurture, and care for it. All the members of our family want the baby . I am prone to excessive worry but do feel this will work out.

We do not qualify for WIC or other types of financial assistance. I am going to put faith into the garage sale/ebay/craig's list/freecycle/put the word out route for baby stuff. In addition to selling and paring down (which we need to do to make room for the baby anyway), I'm considering trying to do something with selling a car and buying something else in its place to cover medical costs and keep us in the black. But I wonder...is that a penny-wise, pound foolish choice? We are not mechanical and don't have the ability to fix a clunker to keep it going.

Since we "paid off" our cars through our home mortgage refi, we own them free and clear. They are both dependable, trustworthy cars. One is a nicer family-size car and the other is a small fuel-efficient economy car. They are both 2003 models. On the one hand, we would like to keep the two cars because one is fuel efficient and can get me to and from my doctor's appointments (70 miles round trip each visit) while we will need another one when the baby comes for any family travel. Is it possible to get a dependable family car for about $7500? We could sell the smaller one, with the intent to repurchase in a year or two, but this doesn't seem like a good idea, since we have maintained it and know its history.

Would you do this? If so, what type of used car would you purchase at the 5-7500K price point? Just another thought..

 

I'll keep my comments largely to the auto question (after all, I am a 'car guy'). I doubt that trading a known good used car for an unknown used car is going to be a good financial decision. 

Let's see what happens if she does sell her car. I looked at kbb.com (Kelley Blue Book). She didn't say what they had, so we'll use a 2003 Honda Accord as being a common model. I chose the base model with 55,000 miles in good condition. Private party price was $9,480.  

She'll need to replace it. So I priced a 1998 Honda Accord (same base model in good condition). This time with 110,000 miles (about 11k per year). Kelley valued it a $4,050.

At first glance the swap would net about $5,400. Not bad. But look at the risks she's taking. She's going from a known, well-cared for car that's not giving her any trouble to an unknown vehicle.

Take for instance the timing belt. Honda suggests replacement at 105,000 miles or 7 years. Would her '98 purchase have had the job done? It's not a small question. It's an expensive job. My local Honda dealer quoted $700 for the job. If she doesn't know for sure, she'll probably need to have it done. Because if she gambles and is wrong, when the belt does go it will do major (read thousands of dollars) damage to the engine.

There will be other similar questions. Think transmissions, electrical, brakes, prior accidents. Today's cars are pretty complicated. That means that they're expensive to repair. Repairs that require $500 to $1,000 are common. Our soon-to-be mom could spend much of the $5,000 in repairs without being too surprised.

One other thought about the car. A 2003 model should last her for a number of years. Conceivably they won't need to look to replace either vehicle for 3 or more years. That's a very good thing. A 1998 model is running on borrowed time. They could find themselves facing the choice between an expensive repair bill or buying a car at any time. Adding a car payment at this time would be a serious financial mis-step. 

What are the alternatives? Our mom-to-be has already solved most of the problem by deciding to find used baby equipment. A little scrounging and some paint-up/fix-up can save lots of money. Finding willing helpers won't be hard. Everyone wants to help an expectant mom! If she's missing one or two major items as she approaches her due date, let the word out prior to a baby shower. Guests would be glad to pitch in for a bigger gift.

The other major expense are the medical bills. Unfortunately you can't buy them used! But you can talk with your medical provider about payment plans. They understand that many young parents don't have the resources to just write a check for the whole amount. As long as your talk with them before incurring the charges many will work with you.

Also, another poster suggested checking again with government programs. It can't hurt to ask. Check, too, with local churches. Many are glad to help expectant mothers as part of their ministry.  

Having a baby is a major event in any family. And, usually when you have one big thing going on it's wise not to make any quick financial decisions. Our mom-to-be is smart to seek guidance before trading one of their cars. And The Dollar Stretcher advice would be to keep the good cars they have and rather look for savings on baby items and a payment plan for the medical bills. 

Keep on Stretching those Dollars!

Gary

Back when I was growing up Mad magazine was a favorite of kids. (maybe it still is). They had many regular features, but the best known was a character named Alfred E. Neuman. He wandered through life ignoring danger. And he introduced a whole generation of kids to the phrase "What, Me worry?"

Fast forward to 2008. I recently received the following email:  

I am trying to help my nephew, who wants to buy his first house at the age of 51.  He wants a $300,000 house, mortgaged for 20 years.  But he and his wife declared bankruptcy (credit card debt) a few years ago, and though he is at the end of paying off his debit, he finds it hard to get a good mortgage deal.  His best bet, I think, is to pay at least 20% down.  But he has only $29,000 (an interest-free loan from me).  Shouldn't he borrow from his 401K the rest of the 20% needed (they do have $31,000 in their 401K accounts)?  Suppose he saves one-half a percent?  Would that be worth it?  (I do not know the details of the 401Ks, but let us assume some "typical" case.)
Thank you,
Edward

Edward was responding to an article I had written about how to evaluate 401k loans. Let me first compliment him on his generosity and willingness to help his nephew. But, if we step back and look at the situation we might find Mr. Neuman's handiwork.

Let's begin with the facts that Edward includes in his email. His nephew is 51 and got in enough credit card debt to declare bankruptcy. We don't know whether it was a job loss or medical issue that caused the credit card debt. But, it could be possible that Nephew is a little too quick to pull out the plastic when he sees something he wants. Edward needs to make sure that's not the case. If that is what caused the problem Nephew will probably not be able to keep the house even with his uncle's help. Sooner or later the credit card bills will begin to conflict with the mortgage. And some of the bills just won't get paid.

Ed is right. Finding a good deal on a mortgage will be hard. That's because lenders know that people who have had debt problems before are more likely than average to have them again. And, yes, a larger down payment will tend to keep the interest rate down But, look at where that down payment comes from. $29,000 comes from an interest free loan from Uncle Ed. (for the record, most mortgage loan agreements require you to disclose if you've borrowed or been given any part of the down payment. It could be illegal to fail to disclose the interest free loan)

The other portion would come from borrowing money from Newphew and his wife's 401k plans. Ed is concerned with the amount of interest that his nephew could save through the lower rate available in his 401k plan. Normally, I'd encourage that type of thinking. But, there are a couple of risks in using a 401k loan that could be much bigger than saving some interest.

Most 401k loans require a fairly short payback period. Nothing like the 20 or 30 years for most mortgages. So if you combine the mortgage payment and 401k loan payment, the earliest years of the mortgage will have the highest payments. That could be a problem.

Also, many 401k loans require that you pay them back completely if you leave your job. Even if it's not your choice to leave your job (read lay off or fired). That would put Nephew in a real bind. No income and a need to pay back up to $31,000 right now. Unless he has some other assets available (unlikely), he'll probably try to take a second mortgage against the house to repay the 401k loan. Finding a 2nd mortgage on his home could prove difficult. If not impossible. The only other options? Go to Uncle Ed for a second loan or let the 401k loan default. I have no way of knowing how a second Uncle Ed loan would work out. But, failure to repay the 401k loan means paying a penalty and income taxes on the unpaid balance of the loan. All of it. And, it also means that a bunch of Nephew's retirement money is gone forever.

So maybe buying this house isn't such a good idea. There might be a better option. Rent for a few years. Soon they'll be through repaying debt. Once that happens they can take the money that had been going to debt and begin saving up a down payment for the home. In a few years their credit score will improve. That will lower the interest rate on their mortgage (which will save them even more money). And, they'll also have some time to consider what they really need in a home. $300,000 buys a lot of house in most parts of the country. Something a little more modest might be in order.

Is it possible for Nephew to borrow money from his uncle, his 401k, buy this house and live happily ever after? Of course! But, with sub-prime mortgages defaulting all over the place you'd have to be Alfred E. Neuman to say "What, me worry?"  

Keep on stretching those dollars!

Gary

I think that those of us who are into frugal living are blessed with a lot of fine resources. Among them is a magazine and website called "Real Simple." Their main focus is on simple living (with a modern interpretation). They had contacted me about an article they were working on awhile back. Just published it the other day. You can find it here 

The concept of simple living seems a little strange. Especially when we discuss it in a blog wired to the net. I'm sure that it doesn't mean the same thing that it did years ago. Back then living simply meant a return to a less mechanized, more rural life. Supporters tended to be self-reliant. The live off of the land types.

But like so many things you don't have to go all the way to benefit from the concept. You don't have to leave civilization behind to simplify your life. Depending on your lifestyle it could be something as simple as getting rid of some of the clutter in your home. I suspect that if we did more of that there would be fewer people looking for bigger homes (did you know that the average home is about 50% bigger than it was 30 years ago?).

It might be time for you to simplify your finances. I don't know the statistics, but I bet a lot of people have more than one IRA. That's ok if there's a specific investment reason for each one. But if they're both doing the same thing it would be simpler to only have to monitor one of them.

I remember watching westerns on TV. Occasionally you'd see one that included a wagon train heading west. Often, if they ran into trouble, they'd leave behind the things that they felt that they could live without. Sometimes those things had traveled with them for many, many difficult miles. It must have been hard to do that. 

It could be that our lives are a little like that wagon train. Look around your world and see if there aren't some things that are not adding anything to your life. If you find something like that it's time to give serious consideration to leaving it behind. Even if it's been part of your life for years.

In case you'd like to find out more about the simple living lifestyle you might like to check out an email newsletter called Simple Times A good friend of ours, Debi Taylor-Hough, has been sharing great ideas with her readers for years. Might be a good way to get a start on a simple, more fulfilling life.

Keep on stretching those dollars (and other resources!)

Gary

I was invited to a friend's surprise birthday party this weekend. Had a great time. Good friends and good food. Can't ask for much more than that! But I noticed something during the afternoon/evening. This friend often hosts an 'open house'. They'll throw on a big batch of food, people will bring more and everyone has a great time.  It's the kind of place where you just know it's ok to head for the refrigerator if you need something. No need to ask first. 

It occurred to me that demonstrated a lot of financial freedom. To paraphrase past wisdom - "you can measure how rich a person is by how little he needs" - i.e. the richest person isn't the person who HAS everything - it's the person who NEEDS nothing.

Refrigerators are an interesting thing. If you come over to my house you can be pretty sure that I'll ask if you'd like something to drink. But I'll be the one to get it for you. Refrigerators are kind of a private thing. You don't need to know that I've got some cheese curds tucked away in a corner that I'm reluctant to share with anyone. And, that's the problem. At that point I don't really own the cheese curds, they own me. (ouch!) 

Guess I still have some growing to do. But that's ok. At least I know what direction I'm headed and have some idea on how to get there!

Keep on stretchin' those dollars!

Gary 

 Just finished an overnight road trip with a friend of mine. Saw something that I'm still not sure what to make of it. Somewhere along I-75 just south of the Florida/Georgia border is a truck stop with an amazing store attached to it. I doubt that it's unique. I just don't get on the interstate for long drives that often. Unfortunately I don't even remember the name or what exit (I was just waking up from a 2am snooze when my partner pulled in). 

The truck stops I remember were glorified convenience stores. But this was like a small shopping center rolled into one store. Along with the regular items, they had everything from 'Betty Boop' pieces to a case with a variety of hunting and ornamental knives. Oh, and the case with blown glass items. And then there were all the native American Indian rugs. Not to mention the junk metal artwork. Truly a unique store.

I'm used to looking at things through the eyes of a consumer. But, even 6 hours (and a lot of black coffee) later, I still don't know what the store represents. I really would have liked to see it in the middle of the day when the roads were jammed with tourists. Now that I think about it, it probably looks a lot like any shopping center or mall in the country. Some folks buying necessities (food, clothing). Some buying things that they forgot to buy earlier (a present for Aunt Mary, a pair of sunglasses). Others are buying because something caught their eye (stained glass cowboy anyone?). And, still others aren't buying at all, just looking out of curiosity.

One thing is certain. We sure do have a variety of stuff available to us. No matter where we might be. Truly amazing. And, while that's good in a lot of different ways, it's also dangerous. Let's face it. When we're buying something at a truck stop we're buying it because we need it right now. Convenience is more important than selection, quality or price. (just for the record, the shop we found appeared to be stocked with quality items at a reasonable price, but I bet that's not true in every similar store) We all know that buying in a hurry is a good way to set ourselves up for regret later. 

Keep on stretching those dollars!

Gary 

Just the other day I was reading an article about politics. Part of the article talked about how some people more easily accept victim status. I don't know how true it is in the political world. But, I do know that it's true in the financial world. Some people look at themselves as financial victims. They feel that they have no control over their financial future. That it's all under someone else's control. And, that there's nothing they can do to change it. Fortunately, most Dollar Stretchers know that they don't have to play the victim. They can take control of their circumstances and put themselves in a position where they'll control their financial destiny.

It hurts to see people victimized. Take, for instance, our friends who have a variable mortgage that just jumped. They can't afford the payment and the current market makes it very hard to sell the house. Right now they're victims. Certainly it's not their fault that the housing market is down for the first time in recent memory. They assumed that they could refinance when they got to this point. At least that's what they were told when they bought the house.

It could have been different if they had been regular Dollar Stretcher readers. They would have read the warnings from Greg McBride of Bankrate www.bankrate.com/dls about interest only and variable mortgages. They would have known exactly the dangers they faced. They would have read numerous articles on how to calculate how much house you can afford. It could have been different.

Please understand that this is not a backhanded way of saying "I told you so". It is a way of saying that in many cases you don't have to be a victim unless you choose to be. You have the right to know what could happen with a mortgage. Or a car payment. Or a credit card payment. You have the information available to you to help you make an informed decision (we publish much of it right here). You have the ability to understand the information. You have the ability to make decisions that will keep you from being a victim later. And, that's the key. You can take steps now to prevent you from being a victim later.

Are there some situations that are outside of your control? Sure! Some things happen to us that there's no way to predict or protect ourselves from. In those cases we are indeed victims. But, we encourage you to take control of as many financial situations as you can. Some will require a little effort on your part. Others will require you to put off a purchase or buy something less expensive that what you originally planned.

So refuse to be a victim. Don't let anyone take control of your financial life. Even if you can't control everything that could happen in the future, Choose to take control of the events that you can. You'll find that it pays big dividends in the future!

Keep on stretching those dollars!

Gary