As featured in The Wall Street Journal, Money Magazine, and more!

Search: jeff

How to Love Cooking

This article was written by in Frugality. 44 comments.

This is a guest post by Forest from Frugal Zeitgeist. Forest writes about frugality, finance, minimalism and lifestyle. In this article, Forest shares his experiences in the kitchen. Cooking great meals is a great way to save money and stay healthy, but it’s a skill that I haven’t developed for myself. Passion can boost motivation, though, and this article might help me find that passion about preparing meals.

When Flexo wrote about alternative financial resolutions he mentioned the idea of cooking more often at home. Cooking at home is often described as a way to save money. It will do that if you replace your dining-out habit, but it does much more than just improve your finances. Cooking can quickly become an enjoyable hobby, and when you get into the groove you can even use it to impress your friends. The health aspects cannot be overlooked, either. Replacing processed foods and restaurant foods with home-cooked versions, where you know the ingredients, will affect you and your family’s diet in a positive way.

But you can’t just expect to fire up the stove and produce an award-winning dish. Learning to cook takes time and patience. You will fail, and you will find that at times cooking isn’t as economical as you originally thought it would be. Investing in a stock of spices and speciality ingredients can quickly blow a shopping budget!

In this post I want to share my journey into the wonderful world of cooking at home and then hopefully convince you to make it a regular activity and a beloved hobby.

How I found my passion in cooking

ToastI never learned to cook anything as a kid. My kitchen wizardry stopped at being able to “cook” a perfect slice of toast and heat an egg in hot oil. Sometimes I would experiment, but I’ll skip the tales of my candy-bar sandwich and curry hot chocolate. When I moved out of my parents’ home at the age of seventeen, I sucked at cooking.

Luckily I had a corner store within twenty seconds of my house. I became a wiz at putting plastic-wrapped steak bakes and hamburgers into the microwave, and later I even progressed to turning on the oven to warm up a frozen pizza. Breakfast cereal was a favorite dinner of mine too. Cheerios for dinner! Yum!

This went on for quite some time. When I turned eighteen and started to throw regular pints of beer into the mix, my belly decided to grow big and round. Through the age of twenty, not much changed apart from my pants size.

Weight is easy to put on and reasonably easy to fix, but the bad habits had been affecting another aspect of my life, something not immediately apparent to most around me. As my belly grew, so did my overdraft. My money situation wasn’t going too well.

In addressing the cash flow problem, I knew I had to make all sorts of cut-backs. It wasn’t exactly a secret to me that my processed food habit was costing me a lot of money and I decided to tackle it by learning how to cook at home. This was also around the same time that I became vegetarian, which seriously reduced the selection of ready-made foods I could purchase at the corner store.

One of my first trips to the supermarket after the decision involved me stocking up on spaghetti, cans of tomatoes, dried basil, salt, pepper and lots of fruit.

I remember throwing myself head first into cooking, just like the way I refused to read instructions when I got a Transformer for Christmas. I didn’t read any cookery books.

For one of my first home cooked meals, I threw a few cans of tomatoes into a large wok with a little oil. I tossed in a load of basil, a little salt and let it simmer for quite a few hours. The result was better than you may think for a first attempt, and although the work was minimal, I enjoyed throwing some stuff in a pot and coming out with an edible meal. I was intrigued enough to learn more.

I continued to develop my “tomatoes and stuff in wok” speciality and would try adding different veggies and herbs. One important thing I did do was learn the basics. This included cooking eggs in their various forms, the basics about herbs, simple stir fry, fried rice, stews and chilis. Occasionally I would follow a recipe.

The big change for me came when I quit my job and moved from England to Canada. I found food to be even more expensive in Canada, and my budget was very thin. I had left behind a high-paying job in London and was now washing dishes in a pub kitchen. Of course being around cooking all day was part of my inspiration, but working out how the hell to feed myself on minimum wage was the real kick in the butt.

I started to buy a lot of raw ingredients and had moved in with my girlfriend. A student and a kitchen boy needed some entertainment and that was where Manjula came in! We enjoyed making dinner together, even though it was stir fry most nights. Cooking with your family and friends can be a lot of fun and a motivation to push yourself forward. We both enjoyed curry so we learned how to cook it properly. I started to search for recipes online, and I discovered Manjula’s Kitchen on Youtube. Manjula cooks a lot of great Indian dishes and her lackluster commentary creates a homey, “I can do this” vibe that I found quite warming. After my first Manjula curry I was hooked.

I was being reeled into this cooking thing.

When you make that great meal, something you never thought you could make, it’s like you finally get it. Cooking can be drudgery, especially when you have to cook for many and you just don’t enjoy it. I look at it like painting. Painting a house is boring as hell, and the outcome is nice, but nothing special. Paint a picture and you enjoy the whole process and the outcome immensely. If you approach cooking like painting a picture you’ll enjoy it very much.

TortillasNext up for me was my other favorite food, bread. I had a drunken conversation with a Mexican lady who convinced me tortillas were just flour and water cooked in a flat pan. I had flour and water at home so a day or so later I mashed them together into a dough, rolled them into tortilla-shaped discs using a Snapple bottle, and fried them in a hot pan. Like my very first tomato experiment, it worked again — not perfect, but within reach of being able to be called bread!

This put me on a bread kick and I turned to the internet for a real loaf. The first recipe I ever used is one I still use today, and variations on the dough are easy to experiment with. There is something calming about kneading dough and something very satisfying about eating it hot out of the oven.

Where I am today?

I cook almost every day. Cooking is a hobby and something I do almost without thinking. I’ll happily tackle any kind of cusine and challenge myself to new recipes on a regular basis. I’m not afraid to pick up something I have never seen before and experiment with it. I still make a lot of mistakes but that is half of the fun.

Along with my confidence, my knowledge of food sourcing and nutrition has increased. I try to buy in-season foods and balance my diet with meals that contain the right amount of carbs, proteins, good fats and all of that stuff.

I absolutely adore cooking. Food is something we all need, but good food is something we all love. The smugness and satisfaction from being able to match meals at your favorite restaurants is unbelievable. Cooking isn’t an art or skill that only a few people have, it can be learned. If you keep at it, you will learn. You’ll want to share your new-found love with friends, and they’ll get the bug too.

Tips to start cooking

Starting off any new endeavor that you hope to grow into a hobby can be tough work. If things don’t work out the first time, it is easy to give up. Often, fear of failure, poor early results and lack of time push people back to TV dinners and prepared meals. Like any feat you want to achieve, you need to go in knowing that you will fail, you will make terrible food, and your journey from a person who reads recipes to a full-fledged cook will not be linear.

Making failure part of the learning process will guard your self-esteem enough to help you get through the rough patches. Set goals and make time for cooking. Instead of going to the pub, stay home and follow a recipe, bake a cake for the family, or go shopping for a cook book.

I would suggest you set goals centered around being able to cook your favorite meal or a favorite meal for your family, learning to cook a few dishes of a certain cuisine, or replacing a regular store-bought item with a homemade alternative. The goal should be something that matters to you and keeps you focused. A solid option is baking bread that is better than the store variety. It’s not easy but a skill that is a lot fun — and messy — to learn.

As your cooking progresses something will happen. Your lack of confidence will subside and you’ll fall into the groove I mentioned earlier. For me, indicators of this were being able to add ingredients without measurement and being able to open anyone’s pantry and put together a meal without a recipe book. At this stage, you won’t be a master chef, but you’ll be competent and confident enough to take on any recipe.

Experimentation is very important and is key to discovering the joy of cooking. If you think chocolate and chili pepper would be good on pork, try it. If you are bored at home, just grab some random ingredients and see what you can cook up.

Make cooking social

Keeping cooking a lonseome pursuit could stop it from progressing into a full-fledged hobby, so it’s important to share. Sharing the cooking and eating experience with friends and family is one of the best parts.

I remember baking cakes as a young kid with my grandma, and I think baking and cooking with kids is a great learning tool. I wish cooking with my parents had been a part of my whole life. Cooking with your partner also brings in a new intimacy to a relationship and shares a responsibility that is often left to one person, most often the woman.

Expanding beyond family, it’s great to host potluck meals or host a dinner party on rotation. Friends of mine set up a little club where four couples set four Saturday nights aside. Each Saturday night, the eight people would all visit one house, and the hosts would cook a three-course meal. The result was that it pushed everyone in that group to try to up their cooking game, and it was somewhat competitive. The dinner parties were successful enough that they have all improved their cooking skills.

Get started

AsparagusI hope I have you convinced to give it a try and I hope you have overcome any apprehension. You may not even enjoy cooking at first, but you’ll enjoy the challenge. Here are some tips to help you get started. Please come back to let us know how it went.

  • Cook a basic flat bread that can be used for lunches, side dishes and more.
  • Bake a real loaf of bread. This is the very first basic bread recipe I ever used, and it’s good.
  • Find an online video recipe for your favorite restaurant meal and try to make it.
  • Use the ingredients in your pantry and create a random meal. It doesn’t matter if it turns out bad, just mess around!
  • Try another favorite dish or two from another part of the world.
  • Invite a friend over for dinner and you cook. They can bring the wine.

Good luck with your new money-saving, healthy hobby.

Please don’t hesitate to ask any questions, or ask for any resources, ideas or anything that comes to mind. If you love cooking, what inspired you to start?

Photos: John McClumpha, jeffreyw, woodleywonderworks

{ 44 comments }

Holidays are about two things: family and food. Halloween is no different. Although families celebrate some holidays with a large meal, with ingredients like turkey, ham, fish, potatoes, and pies, the central food theme of Halloween is candy.

Once a year, everyone is provided an excuse to eat the stuff that parents always told them would rot their teeth, and not feel guilty (or as guilty) about it. The costumes can be entertaining, and I try to reward the better costumes I see with the better candy. For this Halloween edition of the Carnival of Personal Finance, I’m looking at some of the better and more popular candy for the holiday.

The Carnival of Personal Finance is a weekly celebration of the best articles covering a variety of money-related topics from the blogosphere. Consumerism Commentary initiated the Carnival in June 2005 and the event has continued on a weekly basis since then.

Editor’s picks

Twix is the only candy with the cookie crunch — at least it was when George Costanza said it. Twix was first produced in the United Kingdom in 1967 but didn’t find its way to the United States until 1979. The Twix bar was known internationally as “Raider” until 1991 when the brand was changed worldwide.

Here are our favorites for personal finance articles this week:

FT from Million Dollar Journey presents Wealth Tips for New College Grads. Here are strategies for going from a net worth of a negative $160,000 to a positive $500,000 in seven years.

Jenn from Paying Myself presents I thought I was supposed to be rich.. We tend to think lawyers are rich — or at least financially secure — but there may not be much truth to that stereotype.

Ryan from Cash Money Life presents Guaranteed Ways to Get Fired, and says, “It’s easy to get fired. Just follow these tips. Or, if you like your job, do the opposite and make yourself indispensable.”

Neal Frankle from Wealth Pilgrim presents Private Career Colleges – Calculate the Value. Are private career colleges worth the cost of tuition?

Bob from ChristianPF presents 7 Reasons To Rent Instead Of Buying A Home. If you are considering purchasing a home, think through these advantages of renting before you buy.

Nicole and Maggie: Grumpy Rumblings presents Another comment on doing what you love. Should do what you love or go where the money is? This article tackles to age-old question and helps explain the main purpose of a college education.

Betty Kincaid from Control Your Cash presents Debunkery yet again. Brett Favre’s riches are derived from one thing: how much revenue he can generate for his organization.

Continue reading for more of the best personal finance articles from the past week. Read the full article →

{ 27 comments }

Car Insurance Coverage

This article was written by in Insurance. 10 comments.

The first time I shopped for car insurance I didn’t know much about what I would be buying. I should have taken the time to learn more about the various types of coverage before shopping. As a result of my lack of preparation, I did a poor job comparing rates. I was slightly better armed after I purchased a new car six years ago. By then I knew a little more about car insurance. I worked with AAA to find the best rates offered to me in New Jersey and received rates from a variety of other companies for similar coverage.

Yet I am still not a car insurance expert. A quick conversation with my co-workers reminded me that I should re-evaluate my coverage. I am currently covered for much more than necessary considering the reduced value of my car and the savings I have available. I plan to change my coverage this week.

An easy-to-read guide to the various types of auto insurance coverage would have been helpful when I first received a driver’s license. Here is the information I had familiarized myself with when I first assumed the responsibility of a driver.

Liability coverage

Liability coverage pays other people when you are at fault — the cause of an accident. Liability coverage is usually mandatory. If you do not have liability coverage and you cause an accident (and the other individual involved does not have uninsured motorist coverage) you would be responsible for paying their medical bills and car repair bills out of your own pocket. You could be sued if you don’t have insurance, or enough insurance, to cover the expenses paid by the victim resulting from your accident.

Liability coverage is separated between bodily injury and property. Your bodily injury liability coverage will pay for the other individual’s medical expenses and there are coverage levels per person and per accident. For example, my maximum coverage is currently $50,000 each person and $100,000 each accident. That means I will be liable for any excess expenses above those amounts. Property liability insurance covers repairs. My maximum coverage is currently $50,000 each accident. The insurance industry refers to these numbers in shorthand: 50/100/50.

Collision coverage

Collision coverage pays you or pays directly to a repair shop for damage to your car regardless of which driver is at fault. A deductible must be met first. Currently, my deductible is $500. This is low considering a portion of my Emergency Fund is ready to handle incidents. This type of insurance is not required unless you are financing the vehicle and the bank requires it or you are leasing the vehicle. I will eliminate this coverage when I call to adjust my policy.

Insurance will only cover the actual cash value of your car minus the deductible. Assuming my car is now worth $6,000, insurance will cover at most $5,500 for collision, and I am paying $537 a year for that benefit.

Comprehensive coverage

Comprehensive coverage pays you or pays directly to a repair shop for any damage to your car that occurs at any time other than a collision. If your car is stolen, comprehensive coverage would pay you. We experienced a violent storm the past few days, and trees everywhere were uprooted. I didn’t personally notice any cars damaged by falling trees, only fences, buildings, utility poles, and roads. However, it’s likely quite a few people in the area experienced damage to their card. Comprehensive car insurance coverage would help them.

Like collision, comprehensive coverage is not required unless you have a car loan or a lease. I am currently covered with a $500 deductible. I will most likely raise the deductible on this coverage. I considered eliminating comprehensive coverage, but two issues are steering me towards keeping, First, I do not park in a garage, and while my neighborhood is usually quiet, I can’t control other people or nature. Second, I drive to New York City often and my car has already been broken into once.

Uninsured motorists coverage

Uninsured motorists coverage pays you if damage to your car cannot be reimbursed by the driver at fault because they fail to have adequate insurance. Although liability insurance is required for all legal drivers, not all drivers are operating a vehicle legally. There is some, but not complete, overlap with collision coverage. Uninsured motorists coverage might pay your collision deductible. Uninsured motorists coverage will also pay for bodily injury costs not reimbursed by the other driver’s insurance.

I currently have uninsured motorists coverage at the same levels as my liability coverage, 50/100/50.

Personal injury protection

Personal injury protection (PIP) pays you or a service provider for your medical, hospital, and funeral expenses. They may also pay for other family/household members and pedestrians involved in an accident. It’s a good idea to compare the personal injury protection benefits with those offered by your health insurance. If some of the benefits are duplicated, you may be able to justify lower PIP coverage.

If you drive passengers often, consider increasing your PIP coverage. I almost always drive alone, and I’m considering dropping PIP from my policy. Currently, I am covered for a maximum of $250,000 after a deductible of $250.

Other coverage

When my car was being repaired after the break-in I mentioned above, the rental car coverage was helpful. My insurance policy offers reimbursement for transportation expenses up to $30 per day or $900 per accident. This coverage costs me $35 a year. I will likely keep this insurance because its cost is low and I currently have no other convenient means of transportation.

Gap insurance usually is not associated directly with the other aspects of car insurance. It provides one specific benefit. For a driver whose vehicle is leased or finances, gap insurance will pay the driver the difference between the actual cash value of the car minus a deductible and the remaining balance due on the loan or lease.

For example, if you are upside-down, owing $20,000 on a car whose value is only $15,000, and the vehicle is totaled in an accident, your collision insurance will only cover $15,000. Without gap insurance, you would still need to pay what you owe without a car to show for it, and you’ll usually need to buy a new car as well. The gap insurance would cover the $5,000 difference.

Later this week, I’ll reduce my insurance coverage with my provider, Liberty Mutual, and soon after begin shopping around for better rates.

Photo: iboy_daniel, Eduardo Deboni, L. Marie, jeffwilcox, visualpanic, adrian8_8

{ 10 comments }

Don’t forget! Consumerism Commentary is in the running to win a few Plutus Awards. The Plutus Awards are designed to celebrate the best personal finance resources such as books, savings accounts, and blogs. Vote here now before the deadline on March 16. The finalists were selected from among those that received the highest number of nominations in each category.

To be honest, since I created the awards, I am not completely comfortable being in the final running. If I do happen to win a Plutie — and given the number of fans some of the larger blogs have, it’s unlikely — I will pass the prize along to the next highest in the category.

Best of Consumerism Commentary, February 2010

The Consumerism Commentary Podcast featured more excellent topics and guests including behavioral economics with Gary Belsky, tax tips for big life changes with Bob Meighan, Financial Samurai, and Toyota recalls with Jeff Bartlett from Consumer Reports.

In a few hours, Tom Dziubek and I will be recording a podcast with J.D. Roth from Get Rich Slowly about his new book, Your Money: The Missing Manual. Stay tuned; it will be an exciting show and you will hear it first here on an upcoming Sunday.

Join the community

{ 2 comments }

Podcast 42: Toyota Recalls, Frugal Valentine’s Day

by Flexo

Today we talk with Jeff Bartlett, Autos Deputy Editor at Consumer Reports about the recent Toyota recalls. For updated information on Toyota recalls, see Consumer Reports’ unintended acceleration guide. Also in today’s episode, Flexo discusses money saving tips for Valentine’s Day. Production Number: S02E16 Segment Numbers: 60, 57 To listen, use the player above (Adobe ... Continue reading this article…

6 comments Read the full article →

3 Interesting Coins You Might Find in Your Change

by Flexo

It’s becoming increasingly rare, but once in a while it is possible to find interesting coins in your pocket change. Professional and amateur coin collectors tend to snap these up so the coins are taken out of circulation, and many of the most interesting coins are aging and damaged. I do not use cash on ... Continue reading this article…

13 comments Read the full article →

Senator Dodd Going Ahead With Overdraft Legislation

by Smithee

We told you last month about banks deciding to let customers opt out of overdraft fees, first announced by Bank of America and JP Morgan Chase, and then the next day by Wells Fargo (and Wachovia, which it owns). These big banks made the changes very soon after lawmakers announced an intention to try to ... Continue reading this article…

23 comments Read the full article →

Press Release: Consumerism Commentary Podcast Kicks Off Second Season

by Flexo

Popular personal finance show returns with host Tom Dziubek and guest Adam Baker KENDALL PARK, NJ — October 19, 2009 — Tom Dziubek, veteran podcast producer from the Wall Street Journal, returns to Consumerism Commentary this week for the production of the second season of the Consumerism Commentary Podcast. The second season of the popular ... Continue reading this article…

0 comments Read the full article →
Page 1 of 812345···Last »