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

Search: mac

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 }

I received an advance copy of Carl Richards’ book scheduled for wide release on January 3, The Behavior Gap: Simple Ways to Stop Doing Dumb Things with Money. Carl is a Certified Financial Planner who began writing articles — and sketching on napkins — at his own website, behaviorgap.com, and now does the same for the New York Times. His napkin sketches stemmed from his love and the effectiveness of using whiteboards to illustrate financial concepts for his clients.

Earlier this week, I spoke to Carl for an upcoming episode of the Consumerism Commentary Podcast, hosted by Bryan J Busch. Listen to this podcast when it airs a week from tomorrow to learn more about the new book — one of the few new personal finance books I was genuinely excited to read. In addition to concepts from the book, we also discussed Carl’s experience losing his house due to his choice to buy into a real estate market bubble that soon imploded.

Napkin SketchCarl has offered ten 8×10 prints of one of his most relevant sketches to Consumerism Commentary readers and listeners. The sketch explains who to determine what issues are the most important, whether in financial planning or in life. It is a Venn diagram emphasizing the intersection of things that matter and things you can control. The print is on high-quality, thick card stock.

Here’s how to get a free 8×10 print of the napkin sketch

In order to receive a free print, email book@behaviorgap.com with a subject line indicating you’re participating in the giveaway from Flexo or Consumerism Commentary, and include in the email a proof of purchase. The proof can be a copy of your order notice from Amazon, a picture of your receipt, or anything else that shows you’ve purchased the book. Carl’s team will contact the first ten people directly to ensure the prints find their way to the winners’ hands.

Continue reading for some of the best personal finance articles I discovered this week. Read the full article →

{ 2 comments }

After political bickering, the House of Representatives agreed to make a deal with the Senate to extend the payroll tax holiday. This tax cut reduced the payroll tax — a tax separate from but often associated with federal income tax — from 6.2% to 4.2% of the first $110,100 of wages. The tax benefits Social Security, a program politicians often claim is in danger of being underfunded. The payroll tax rate was scheduled to return to the normal amount of 6.2% at the beginning of 2012, but once a bill is signed into law, this rate will continue until the end of February 2012.

The Senate was only able to pass a bill that extended the tax cut for two additional months. In general, policy makers believe the lower tax rate will help stimulate the economy, but there are concerns about the effect of the long-term reduction into Social Security. After the Senate passed the bill, the House eventually relented. Part of the deal between the House and the Senate requires representatives to start working immediately on a new plan to find a way to extend the lower tax rate until the end of 2012.

Expanded federal unemployment benefits were also scheduled to end at the beginning of the year, but this bill would extend these benefits for two months as well.

The extension of the payroll tax cut and the expanded unemployment benefits will be paid for by an increase in the amount mortgage lenders must be Fannie Mae and Freddie Mac to insure loans.

An average project manager saved $1,300 last year due to this tax cut of two percentage points, and if politicians agree on extending the cut for all of 2012, that amount could double by the end of next year. When the tax cut was announced initially last year, I offered 20 suggestions for using the money you save through the payroll tax cut. With doubled savings, the opportunities for using the cash benefit are even greater.

{ 5 comments }

Thanks to some changes to the federal Home Affordable Refinance Program (HARP), more homeowners can qualify for government-endorsed refinancing. Previously, the program only offered refinancing options for households where the mortgage value was up to 97% through 125% of the home’s market value. This did help families who have become underwater, having more left to pay on their loans than their houses are worth. Given the continued depressed real estate market in much of the country, this hasn’t been enough. HARP 2, the expanded program, will allow a family who owes more than 125% of its home’s value to qualify for refinancing.

This program is different than the Home Affordable Modification Program (HAMP), which encourages lenders to change loans to restructure monthly payments. Each program has different requirements for qualification.

Many people are in financial trouble due to the combined effects of unemployment, increasing expenses, and accepting a mortgage that carried too much risk for a family. Some are ready to walk away from the house and the mortgage, accepting the consequences such as destroyed credit. Others want to take every option available to stay in the house and pay the mortgage in some form. Programs like HARP can now reach more people who want to keep their homes.

In order to qualify, the mortgage must be owned by Fannie Mae or Freddie Mac, the mortgage must have originated on or before May 31, 2009, you must be current with your mortgage payments, you must have had no more than one late payment in the last year, and your loan most be at least 80% of the value of the house.

In the past two years, fewer than 450,000 homeowners have taken advantage of HARP each year. With this adjustment to allow households deeper underwater to qualify, the number of families taking advantage of the program could increase to one million in each of the next two years.

HARP and HAMP are sponsored by the Department of the Treasury and the Department of Housing and Urban Development. The programs come from generally good policies designed to help homeowners when mortgage lenders have been more apt to take advantage of consumers. Just this weekend, I spoke with a firmer loan officer who left the business due to the shady ethics in the industry; her large corporation was issuing mortgages with the full knowledge that the borrowers would eventually default. There’s more to the story — the bank was selling the mortgages, so they had no inclination to worry about what would happen to the borrower in the future, and the government was subsidizing and encouraging risky mortgages, and every lender was taking advantage of this “free” money.

Nevertheless, HARP and HAMP can help correct these problems from a systemic perspective as well as a homeowner’s perspective.

Would you take advantage of the new and improved Home Affordable Modification Program?

New York Times

{ 4 comments }

Podcast 139: Buying and Owning a Mac: Secrets Apple Doesn’t Want You to Know

by Flexo

Today on the Consumerism Commentary Podcast, Bryan J Busch talks to Jonathan Zschau, author of the book Buying and Owning a Mac: Secrets Apple Doesn’t Want You to Know. They discuss the staggering frequency of commercials in daily life, how it’s easier to avoid than resist the temptation to shop, and the convincing argument that ... Continue reading this article…

1 comment Read the full article →

Boost Your Human Capital: Start Early

by Flexo
Baby

Your human capital is just as important as your financial capital. In fact, it wouldn’t be a stretch to consider your human capital, your potential to become financially independent over time, more important than your net worth at any one particular time. Over the past few weeks, I’ve been writing in depth about ways to ... Continue reading this article…

7 comments Read the full article →

The Best Online Savings Accounts, February 2012

by Flexo

The best online savings accounts offer high interest rates and great customer service. Savings accounts, particularly so-called “high-yield” savings accounts, are best for money you might need within a year. Any money that you don’t want to subject to the short-term risk and volatility in the stock market should be held safe in a savings ... Continue reading this article…

207 comments Read the full article →

Should Hedge Funds Receive Special Treatment?

by Flexo

The Security and Exchange Commission (SEC) has advised the managers of super-secret hedge funds, investments of the most wealthy, that they will soon need to disclose more information to the regulators. Highly leveraged hedge funds contributed to the economic collapse, but the pressure to increase oversight has been mostly ignored by the industry. In response ... Continue reading this article…

10 comments Read the full article →
Page 1 of 3112345···Last »