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Money In the News: When There is Debt and Frugality

Mint.com Blog posts a list of minor money mistakes that make them mental.

The other day, I went shopping. My wife had clipped a $1 off toothpaste coupon to the shopping list. I had the shopping list in my hand throughout the trip, and as I put the toothpaste into my basket, it gave me a warm, fuzzy, $1-off feeling. Then when I got to the checkout, I forgot to present the coupon. They’re not going to put me on that Extreme Couponing show any time soon, since apparently I’m incapable of entry-level couponing.

That’s $1 gone from my life forever.

Daily Finance tells what American’s will give up to save money, and what they won’t.

When asked to select the last thing they would give up in order to save money, only 1% of the nearly 3,150 poll respondents insisted on keeping their designer coffee, 1% couldn’t do without online or catalog shopping, 4% would have trouble eliminating eating out, while 8% were reluctant to pull the plug on their cable TV, reports the NFCC.

The Digerati Life posts about how small purchases can lead to big debt.

Some appeared to be holiday gifts purchased in October and November. The rest of the purchases were impulse spending such as clothing, shoes and a trip to the restaurant. Did we really have to dine out and pay interest on it? Absolutely not. We certainly could have been more cost-conscious about our expenses, but we weren’t.

Daily Finance posts 12 ways that American’s are cutting everyday spending.

Compare a 14-ounce box of brand-name Cheerios, which sells for $4.69 at FreshDirect.com, to a generic box of similar breakfast cereal which sells for less than $3 at local grocery stores. Which do you buy? More than two-thirds of Americans are choosing the latter. Buying generic is the most popular way to save money these days.

About Crystal Groves, Google+

Crystal Groves is a farmer, web developer, musician, blogger, and personal finance enthusiast from the back hills of Maryland and Pennsylvania. She started Money Drain as a project to encourage people interested in fixing their financial situation to share their stories and learn from the stories of others. We all make mistakes, but in order to change we have to make changes.

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