Take a Tasty Trip to the Mediterranean

After reading the recent study on the health benefits of adopting a Mediterranean type diet, I was thrilled to receive this Greek-inspired recipe from our friends at eMeals. Not only is this delightful meal tasty, but it’s quick and easy to prepare, too.

With just eight ingredients, you can have a perfectly portioned, flavorful meal on the table in less than 30 minutes. And who doesn’t like that?!

eMeals has been kind enough to give away a free 1 year subscription to one lucky reader. Click here to enter.

The many eMeals’ meal plans are available to Everyday Cheapskate subscribers at a reduced price. Take advantage of the special offer of 15 percent off an eMeals’ membership. Use coupon code DebtProofLiving when checking out at eMeals.com. Continue reading

Posted on March 21, 2013 by Mary Hunt in Food & Recipes 1 Comment

Settling Can Be Really Bad for You

Dear Mary,

What do you think about settling a debt with a creditor? I recently agreed to one for a credit card and the bank did notify me that the forgiven debt will be considered income by the IRS. I will have to file taxes on this amount using form 1099C. The bank will report the zero balance to the credit agencies, my credit report will read “settled, zero balance” and the account closed. Was this a bad move on my part? Cindy, California

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Dear Cindy,

Given the information I have, here is what will happen: Yes, you will be required to pay taxes, both federal and state, on the amount remaining—just as if that was money you earned. By not repaying, it is money your bank gave to you. That is the law and your bank must report this to the IRS. It will also be reported to all of the credit bureaus and will stay on your credit report for seven years. Continue reading

Posted on March 20, 2013 by Mary Hunt in Dear Mary 19 Comments

Freezer Tricks, Not Freezer Burn

With food prices going up faster than I can get through one grocery shopping trip, it’s more important to our wallets than ever to prolong the life of our food. Unfortunately, freezing food doesn’t always guarantee a tasty preservation, so I was thrilled to read Natalie’s tip.

Photo Credit: Americas Test Kitchen Feed

SHRINKING ICE CREAM. A cool tip to save your ice cream from freezer burn, especially if you buy in bulk, is to cut away the container as you scoop out your ice cream. As the level of ice cream decreases, cut the container just above what is left with scissors, secure the lid and put the ice cream back in the freezer. Placing the container upside down will also help to protect it from burn, and keeping the lid snug against the ice cream preserves the taste and saves space. Natalie, California Continue reading

Posted on March 19, 2013 by Mary Hunt in Tips 4 Comments

Debit Cards and Motorcycles Just Aren’t Safe

For decades I’ve pleaded with you to not use debit cards because they are not safe. And for years I warned my sons about the dangers of riding motorcycles because they are not safe.

Has anyone listened and taken heed? Debit cards are more popular than ever. And on the subject of motorcycles in my family, to date I have a 50-percent fail rate. For me, debit cards are the motorcycles of personal finance.

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I’ve concluded that the best I can do now that so many refuse to give up their debit cards (and motorcycles), is to nag, preach and harangue on the importance of crash helmets and safety equipment. Continue reading

Posted on March 18, 2013 by Mary Hunt in Home & Family 32 Comments

Overspent and Overloaded? You Need Margin

Bill Smith sits down to his most dreaded chore—paying bills. Every month it’s the same story: pay the most urgent and leave the rest. There’s never enough money, no matter how hard he works.

Jane Miller flies into the school office frazzled and 30 minutes late because she was 20 minutes late getting out of the dentist’s office because she was 15 minutes late to her appointment. How will she ever get the kids home, homework started, dinner on the table, and be back out the door in time to chair the PTA meeting that evening?

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Tom Johnson gets up every morning at 4:30 to make the 5:30 train for his 90-minute commute into the city. He crams during every spare minute for the classes he’s taking at night. Getting his degree is no longer something Tom can put off. Continue reading