Dear Cheapskate: In light of recent fires in many states in the United States, do you have a list of paperwork one should keep in a travel case or fireproof box?—Cyndi, Ohio
Dear Cyndi: At the top of the list should be insurance policies and visual inventory (DVD or video) of your home and its contents. Follow that with photo IDs, health cards, Social Security cards, birth certificates, and marriage and military records. But rather than keeping these items in a bag by the door, you should consider investing in a home safe that is both fireproof and heatproof. If you make it a habit to keep all your important papers and documents in the safe, they will survive even a wildfire if you are unable to retrieve them before you leave.
For a complete list of everything you need to have ready in a “go bag” to take with you if a natural disaster strikes, visit EverydayCheapskate.com/7-things-to-do-now-plan-ahead-for-disasters.
Dear Cheapskate: Do you have a recipe for a good nonalcoholic daiquiri? I am planning on making them at a festival coming up soon.—J., Louisiana
Dear J: I do! To make a virgin strawberry daiquiri, fill a blender with ice cubes. Add 1 ounce fresh lime juice, 3 ounces frozen strawberries in syrup, and 1 teaspoon sugar. Blend until smooth, then pour into a chilled glass.
Dear Cheapskate: In a recent column, you told a reader how she could pay off her home mortgage more quickly by applying an additional amount to the principal each month. Can you apply this principle to a car loan or a student loan? I owe $23,000 on the car and $5,200 on a student loan. My monthly car payment is $440 at 7.9 percent and my student loan is $281 at 8.5 percent.—Sharonda, email
Dear Sharonda: Generally speaking, yes. However, you need to research the terms and conditions of the loan(s) you want to pay ahead of schedule. Some loans are structured in a way that the borrower has to pay the total amount of interest, regardless if the loan is paid early or over the term. And some are subject to a “prepayment penalty.” The logic is that if you pay the loan early, you will deprive the lender of some of the interest you promised to pay, so you will be penalized a percentage or a specific amount if you pay it off early. I cannot stress this strongly enough: Know exactly the terms and repayment conditions of your loans—mortgage, auto loans, student loans, personal loads, credit card balances, IRS payment schedules—all of them!
Most unsecured debts, such as credit cards, can be paid early, thus saving a great deal of interest. And even if there is not much financial incentive to paying debts early, the emotional payoff should not be underestimated, because it is huge.
Dear Cheapskate: My granddaughter got highlighter pen marks on her new dress. Any idea how to remove it?—Mercedes, email
Dear Mercedes: Flush the stain with rubbing alcohol and gently agitate by hand. Then apply heavy-duty liquid laundry detergent, let it set for a few hours, then launder as usual. If the stain remains, repeat and add one cup of household ammonia to the wash cycle. (As a reminder: Never ever mix ammonia and bleach.) That should do it!
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