Comments on: Reader Mailbag #43

By: Brian

Brian — Sat, 03 Jan 2009 18:53:29 +0000

Question:

I’m a college student with limited income. I commute to both work and school (about 35 miles one way, 5 days a week). I usually just break even every month, though lately I’ve been working more hours, I make $8/hr. My car will be needing some work done, it just went over the 100k mark, but I don’t have the money to have it done. however, I just received a citi dividends credit card, I applied to take advantage of the cash back rewards.
I’m wondering if I should get all the maintenance done on my car and charge it to the card then slowly pay down the balance while the 0% APR still applies for the first 6 months. What are your thoughts on this?

By: Frugal Bachelor

Frugal Bachelor — Fri, 02 Jan 2009 23:46:56 +0000

Question for Trent:

Do you speak any foreign languages? Do you believe it is worth it for Americans to spend time to learn a foreign language?

By: NYC Reader

NYC Reader — Fri, 02 Jan 2009 04:16:07 +0000

Trent, I’ve searched TSD high and low, and it seems you haven’t written a review of David F. Swensen’s “Unconventional Success” (or if you have, I’ve failed to find it).

Swensen is the chief investment officer of Yale University’s endowment, and he’s noted for the endowment’s stellar performance since he took charge. He’s a big fan of low-cost index funds, and has some interesting ideas on asset allocation.

I’d love to read your opinion of the book. And please don’t stop the book reviews…. I’m a big fan of your “Let’s dig in and find out” synopsis and review style, and I look forward to the weekly reviews.

By: spautz

spautz — Wed, 31 Dec 2008 04:37:40 +0000

Have you heard of anyone ‘diversifying’ their emergency fund into multiple currencies? Given the current financial chaos, and uncertainty about where deflation/inflation might go, I’ve been wondering if having 100% of my emergency fund ‘invested’ in dollars is the best idea. Holding other currencies seems less efficient (due to fees and lower interest rates), and certainly carries its own risks, but do you have any thoughts on it?

I’m still building my emergency fund (with a target of 6 months’ expenses), and I’m considering changing my goal to 4 months’ expenses in dollars + 3 months’ expenses spread across other currencies. In either case, the funds would sit untouched (I hope!) and would generate some interest.

By: Louie

Louie — Tue, 30 Dec 2008 20:09:16 +0000

What type of cellular phone provider do you use? what kind of phone and services do you opt for?

By: Mister E

Mister E — Tue, 30 Dec 2008 18:22:42 +0000

I would third the recommendation of the Home Depot books. They do a very good job of walking you through a lot of simple and not so simple jobs.

By: Mel

Mel — Tue, 30 Dec 2008 17:57:05 +0000

I agree with CPA Kevin, the Home Depot guides are great! They take you through the process step-by-step and give pro tips to make it easier. Also they rate the jobs; beginner, handy, pro and tell you about how long it will take and all the tools you need. Also, if you check DIY.com, they have some good instructions and some have videos.

By: CPA Kevin

CPA Kevin — Tue, 30 Dec 2008 17:09:01 +0000

Aristotle – I’ve done quite a bit of work on my own home and found the Home Depot hardcover guides to be useful. They are detailed, have lots of pictures and step by step directions. I’ve used the wiring and plumbing guides, but they have several others. You could probably find used versions at Amazon I would think but even the new ones are like $10 each I think.

By: Michael @ The Life Insurance Insider

Michael @ The Life Insurance Insider — Tue, 30 Dec 2008 15:40:08 +0000

I agree on your answer to the employer group life insurance question. Most of those group life policies are not portable if you leave the company. I would also add that in most instances with the exception of the free coverage they provide most companies do not contribute towards any supplemental amount you sign up for. Unlike health insurance, most people in reasonably good health can qualify for a less expensive product on the open market.

By: Margaret

Margaret — Tue, 30 Dec 2008 04:42:45 +0000

A question for a future mailbag: Interest rates have dropped to the point that it makes sense for dh & I to refi our mortgage. We are six years into a thirty year loan. DH just turned forty years old. Our two options: 1)refi to another thirty-year loan (effectively tacking on six years) and reduce our payment by $400 monthly (helpful considering we have a large & growing family and don’t necessarily expect enormous income growth relative to expenses growing with the kids) or 2) refi to a twenty-year loan at a cost of only about an additional $25 monthly. The first has the appeal of more cash on hand, the second gets us out of mortgage payments slightly sooner. This is our “forever” house, btw– I fully intend to move out of it when they carry me out in a box. :-)

Any thoughts??

By: Pearl

Pearl — Tue, 30 Dec 2008 04:21:32 +0000

My favorite version of the Goldberg Variations has always been Glen Gould, if you haven’t heard Gould’s version you should give it a listen :) I prefer the conversational sound to his version rather than a slower, contemplative version personally.

By: Jennifer Singh

Jennifer Singh — Tue, 30 Dec 2008 03:47:40 +0000

Thanks for recommending the Atlantic. I had never heard of it before, but I found it in my library’s online magazine database. Using just my library card number, I can read PDF’s of my favorite magazines for free. Last night I found they have Sky & Telescope, today your post pointed me to The Atlantic… when will I ever have time to do all the reading I want to do? Ha! What a fabulous (free!) problem to have!

By: Bill in NC

Bill in NC — Tue, 30 Dec 2008 02:52:34 +0000

“when the power is out, we don’t have internet access even if the router in the house is powered up.”

Let me guess – cable broadband?

That’s one of the reasons I switched to DSL and use one of these (much higher battery capacity than a regular UPS) to power my modem and wireless router:
http://tinyurl.com/7lbxh8

By: Sharon

Sharon — Tue, 30 Dec 2008 02:41:53 +0000

Gone with the Wind is a GOOD film adaptation? Have you actually read the book? They killed of two of Scarlett’s three kids and made a lot of other major cuts. I realize that if they hadn’t done that, I would still be watching the movie (I saw it when I was 19), but there is so much more in the book that I definitely don’t include it on your list.

By: Chris

Chris — Tue, 30 Dec 2008 01:52:03 +0000

We are getting ready to come into a sum of money due to a death in the family a few months ago. However, we do not know how to best put the money to use. Should we pay off our unsecured debt (we have a lot) or create a larger emergency fund (we only have about one month’s worth of bills)?

By: Aristotle

Aristotle — Tue, 30 Dec 2008 01:24:21 +0000

Hi Trent–
One of my goals is to learn more about home repair so I can be ready for some DIY projects (currently live in an apartment but am preparing to buy a house in a few years)… Hands-on experience is the best, so I’m sending out some queries to family/friends to do some things for them in exchange for an education, but I’m also a very reading-oriented learner. To that end, can you recommend any DIY home repair books that go into sufficient detail for a newbie?
Thanks!

By: Mel

Mel — Mon, 29 Dec 2008 22:10:00 +0000

I heard from reliable sources that Watchmen will be very true to the graphic novel and fans won’t be disappointed. Plus, the early previews look amazing! Although I’ve been burned recently by comic book adaptations (Hellboy2, F4: Rise of the Silver Surfer) I will go see it with anticipation hoping for another Ironman.

By: Michael

Michael — Mon, 29 Dec 2008 20:34:33 +0000

Paul, Alan Moore said what he wanted to do with Watchmen – I think he put it as making the “Moby Dick” of graphic novels. Obviously my criticism of it is my own opinion.

By: Mister E

Mister E — Mon, 29 Dec 2008 19:38:28 +0000

Jurassic Park Film > Book
The Godfather Film < Book

IMOHO of course.

By: NYC Reader

NYC Reader — Mon, 29 Dec 2008 19:34:34 +0000

@Nanc

“Happiness is when what you think, what you say, and what you do are in harmony.” – Mohandas K. (Mahatma) Gandhi