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Key steps to take and traps to avoid if you pursue this homebuying method.

By Karen Datko Oct 23, 2009 11:04AM

This post comes from partner blog The Dough Roller.


In 2005 I became a landlord. A good friend and I began investing in single-family homes in the Midwest. We purchased two HUD foreclosures in 2005, and since then we've added three more HUD foreclosures to our portfolio.


When we advertise one of our homes for rent, we always advertise the property as a rent-to-own home, also called a lease option. We structure the agreement to allow the tenants to purchase the home within a specified period of time for a set price.


We've entered into several lease-to-own agreements with tenants, although we've yet to sell one of the homes to a tenant (more about that in a minute). This experience has taught me two things: Tenants make major mistakes when entering into a lease-purchase agreement, and some landlords take advantage of tenants who don't understand how to approach a contract for a rent-to-own house.


Because rent-to-own real estate is becoming more and more common, this article will identify tips on how to negotiate a fair lease option with a potential landlord and potential traps you should watch out for.


Free spaghetti and coupons for T.G.I. Friday's, plus more.

By Teresa Mears Oct 23, 2009 10:18AM

If you’re hungry, we’ve got the Friday food freebies and deals.

You already know about the free piece of grilled chicken for everyone at KFC on Monday, Oct. 26.


Some of last week’s deals are still good, too.

Burger King rolled out an addition to its Value Menu this week, the quarter-pound Double Cheeseburger for $1. The sandwich has two flame-broiled hamburger patties, crunchy pickles, ketchup, mustard and two slices of American cheese on a sesame seed bun. If you’re a fast-food aficionado, let us know how you like it.


Here are some other deals, courtesy of our friends at Cities on the Cheap:


A disproportionate number of the 7 million jobs wiped out by the recession were held by men.

By Karen Datko Oct 22, 2009 7:28PM

A recent column by James Surowiecki in The New Yorker convinced us that "the new frugality" won't last once good times return (and is probably just a figment of our imaginations anyway). Let's finally put that discussion to rest. (We will. See below.)


But there is a trend the Great Recession has inadvertently gifted with real staying power: It's more common that American women are the co- or often leading source of income for their families, i.e., they're making more than their husbands.

"The Shriver Report: A Woman's Nation Changes Everything" says:

Today, four in five families with children still at home are not the traditional male breadwinner, female homemaker. And women are increasingly becoming their family’s breadwinner or co-breadwinner. The deep economic downturn is amplifying and accelerating this trend.

And it also looks like many folks are getting used to the idea. A survey done for the Shriver Report shows that "65.3% of women and 61.2% of men strongly agreed with the idea that they are comfortable with women earning more than men in a household," Allison Linn reported in a story at MSNBC.


Deals include a $149 netbook and $49 digital camera.

By TracyC Oct 22, 2009 4:50PM

Halloween isn’t even here yet, but one of the first big Black Friday sales ads has already been leaked: the circular for OfficeMax.


The best deals listed for one of the biggest shopping days of the year, the day after Thanksgiving, include an Acer Aspire netbook with Intel Atom processor, 10-inch screen and Windows XP for $149, half off its regular price of $300.

The same ad shows an Olympus X905 10 MP digital camera for $49. That camera is now on sale at OfficeMax for $99, marked down from $149.


The essentials about this cheap, healthy food -- plus recipes. Yum.

By Karen Datko Oct 22, 2009 2:26PM

This guest post comes from Kris at Cheap Healthy Good.


Some will balk at their flavor and size. Many will have texture issues. And still others just won't enjoy the gas.

But know this: There are few cheaper, healthier, and more versatile foods than the humble bean. Members of the legume family, beans can be found everywhere from gourmet restaurants to campfire cauldrons. They've been vital to the survival of certain populations, and instrumental to the development of particular cuisines.


Also, they taste good.

Still, there are folks out there unfamiliar with chickpeas and pintos, kidney and black beans. And for them, CHG proudly presents the following: a breakdown of why beans are wonderful, plus 42 tried-and-true recipes in which to use them.


This time, company says it is ready

By Teresa Mears Oct 22, 2009 1:58PM

If you missed the last KFC freebie, the Colonel (or his deputy) has a deal for you. Today, Monday, Oct. 26, more than 5,000 KFC restaurants nationwide will give each customer one free piece of grilled chicken.


Company president Roger Eaton promises you’ll really get your free chicken this time.


Unlike the giveaway promoted by Oprah in May, when customers were turned away after stores ran out of chicken, the company promises it is ready for the onslaught, or what it hopes will be an onslaught of customers, The Associated Press reported. An earlier giveaway in April went well.      


Some universities charge extra if you major in business or engineering.

By Karen Datko Oct 22, 2009 12:30PM

You know this airplane scenario: Passengers compare notes on how much they spent for seats that you'd think would cost the same. It ticks you off when you find out you've paid the most, doesn't it?


Transfer that discussion to the Student Union Building, except now everyone is comparing tuition. That's right. Some universities -- including those in the University of California system -- are thinking about charging higher tuition to students who major in more lucrative fields -- specifically engineering and business.

Many schools are already doing it, probably more than you think. Engineering and business are often targeted, but some students in nursing, architecture and music (music??) also pay more. Meanwhile, college costs for all students, including those in California, continue to climb overall as states cut spending and endowments shrink.


"Miss M" at M is for Money, who is an engineer in real life, thinks charging some undergraduate students more than others is a very bad idea.


She fills her husband's shampoo bottle with a cheap substitute.

By Karen Datko Oct 22, 2009 9:35AM

This post comes from Trent Hamm at partner blog The Simple Dollar.


Note from Trent: This week I’m posting a series of articles on the ethics of frugality. How far can you take things without crossing an ethical line or diving into seriously socially unacceptable waters? I’m recounting some of my own stories and some stories from readers along the way.


"Jane" (we must protect the innocent here, right?) writes in:

My husband has always used this expensive Aveda shampoo for his hair. He says it needs to look good for work. I've always used Suave or Pert and it's worked fine. Lately, I noticed that his shampoo looks almost identical to mine, so when his bottle was empty, I washed it out and filled it with my shampoo. I thought the only way he might notice is because of the difference in smell, but he hasn't noticed it at all. In fact, I've refilled it twice with my cheap stuff. But now I feel kind of guilty about it. Should I tell him? Was this the right thing to do?

There are always two sides to every story. So let's look at them.



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