The Simple Dollar Morning Roundup: Television’s Demise Edition

I broached the subject of eliminating television altogether again with my wife last night. She’s slightly more open to the idea than before, but I still have a long road yet before it happens. Now, for some posts:

Countdown to Mom Mom’s coming – and she wants his can of sardines! (@ my open wallet)

More on Mortgages: 10 Great Reasons to Carry a Big Long Mortgage I recently argued against long-term mortgages; here’s a great counter-argument. (@ all financial matters)

ING Direct Offering 10% APY Promotion! In Spain, that is. Rumor has it that it will be rolled out in the United States soon, though. (@ consumerism commentary)

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  1. Madame X says:

    I think I’m missing the joke, but oddly enough, another thing that would probably horrify my mom is that I sometimes do eat a can of sardines for dinner! I’ll have to avoid doing that while she visits!

  2. Jim Lippard says:

    I think there’s a lot to criticize on the long mortgage post–it overstates the tax benefits, it assumes that houses only appreciate and don’t lose value, it doesn’t mention that many people have negatively amortizing or interest-only Adjustable Rate Mortages these days.

    My personal strategy has been to try to have the best of both worlds. I have a 30-year fixed rate mortgage which I’ve refinanced twice to get a better interest rate, without taking out any cash. Although it’s a 30-year loan, I generally pay on it like it’s a 15-year. Because I’ve refi’d twice and home values in Phoenix have skyrocketed, I’m now paying 5.25% interest on a loan that’s about 25% LTV, and my monthly mortgage payment is less than comparable rent for a much smaller property. I can now easily ride out a job loss or a significant loss of property value.

    But I still consider selling and renting, because there are other significant costs–my property taxes are increasing 71% between now and 2008, and I have significant maintenance and energy costs. This just points out that there are a lot of factors involved here. My main objection to the “take out a big, long-term loan” thesis is that it encourages people to go into debt for a home they may not truly be able to afford.

  3. Do you mean eliminating the TV altogether? Or just ditching your cable subscription?

    We’ve been moving to a less-television oriented house. We just cut back to basic cable, and may even kill that before long. We’ve been doing TV shows via Netflix for years, and find that we prefer it. And lately we’ve been doing shows via iTunes. In fact, I’m downloading Battlestar Galactica season 3 at this very moment!

  4. JuryDuty says:

    You said you recently argued against long-term mortgages. Got the link to that argument?

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