Barack, The Peoples' President

Hello again,
This is Frugal Frank back for the 2012 election. I will state for all to know that I am a fiscally conservative, socially liberal democrat and I like President Obama. If you ask me if I am better off than 4 years ago, the answer is yes. Four years ago, I was laid off, but today I am working in a new career. I will not even discuss Mitt in this post because of what I heard him say at the private donors meeting, he's not running to help out me and my other 47% of Americans who at times have had to rely on Uncle Sam for a little unemployment assistance. We help built this country but some people want to kick us when we hit a rough patch in the road. Also, I don't trust anyone who won't bank their money in the good ole U.S.A. Well, enough with politics, I am a history buff and could talk days about the Gilded Age and the New Deal comparisons. Only thing I can say is vote whether you are republican or democrat, our Black(yes, check with DAR, over 6000) and White Revolutionary forefathers fought too hard for this right.

In today's economy, I never thought that putting your money in the bank and under the mattress would give you the same return but that is the case today. Your only option to stay ahead of the game is to risk a little in the market. If you have  401K or IRA money, Vanguard or TIAA-CREF will still give you the best bang with low administrative cost. They are conservative but their funds are doing pretty good.

If you invest in the market follow a principle I like: Stick to what you know.
Really, if you pick up your local newspaper you will find deals in companies in your back door. Think about it, Labcorp was once a small testing lab in a small town. The people who missed it, missed big. How many times do you wish you had bought Ford stock at a $1.00 a share three years ago. No, I don't give stock picks because there is no magic bullet, but only persistence and staying in the game. Remember losses are only on paper until you sell. Wait I take that back; or unless you own Enron(that a real loss).

Until later,
Frugal Frank on the Blackside

How to Drive Your Car 300,000 miles

I remember growing up during the 70's and 80's. If you had a car that lasted to 100,000 miles, you were lucky. Most vehicles that reached this achievement, probably lost parts like door knobs, seat covers, screws, etc. along the way.

Today, with the advancement of vehicles, there should be no reason why the average vehicle should not get 300,000 miles. The vehicles now have no carburetors to fail and spark plugs that last 100,000 miles. The key is that the cars have to be maintained. These are the must do's;

1. Oil change (every 4000-7000 miles)
2. Timing belt change
3. Spark plugs and wires
4. Have any knocks or noises checked and repaired soon- the longer it goes the more costly it gets

My favorite vehicle hands down is the Subaru Legacy. It is a good running and reliable vehicle.
I have had my present Subaru for 20 years and it runs like a charm. I treated it to a Maaco paint job for around $450 . Don't believe the advertisements of $149 or $249, but don't pay alot on a used car.

So, why do I discuss this? Because you do not need to buy a new car every few years for reliability. When you consider that that in order to get payback and break even on your car you need to keep it the additional amount of years it took you to pay off the loan. This means that for a 5 year loan, you need to keep your car for 10 years.

Use my tips to save on your car purchase:

1. Never pay more than $13000
2. Buy from older owner car with 90,000 to 100,000 (Don't go past this)(all problems and recalls will be resolved.
3. Before buying check web for recalls or problems with transmissions(Honda and Lexus had transmission problems around 2000-2004, they tended to go out around 60,000 and cost $6000 to fix) make sure these have been fixed or you are within warranty.
4. Find a good none dealership mechanic who will install parts you provide. (Very important)
5. Before you have parts installed, search web for used parts. They will work just as well as new and you will save 60% on your repair bills.
6. Check Consumer Reports for used vehicle reliability.
7. Only purchase new when technology or usage changes

- birth of baby- need van or 4 door
- your vehicle does not have airbags and you have a family
- you have a 4 cylinder and you need a six

Now with all this savings, once you have your vehicle paid off defer those car payments into a bank account. When you accumulate $13,000 or keep your vehicle for as long as took you to pay it off, then you can pay cash for another used vehicle.

Remember, the people who tried to keep up with the Jones just found out that the Jones were foreclosed on last week.

Peace Out,

Frugal Frank on the Blackside
(stay Black and cheap)