What is Debt Settlement?

Debt settlement. I’ve heard this term over and over in recent months. While I’ve had a vague idea of what this means, I’ve never known exactly what debt settlement entails, so today I thought I’d take a closer look. Debt settlement in a nutshell Debt settlement involves negotiating with a creditor to agree on a […]


Weekly Roundup – Cinnamon Bear Edition

Today was a big day in our household… November 29th marks the traditional start of the “The Cinnamon Bear, ” an old-time, holiday-themed radio serial. I first learned about The Cinnamon Bear when JD wrote about it over at Get Rich Slowly a few years ago. If you have kids, this is definitely worth checking […]


Federal Tax Brackets 2010 (Income Tax Brackets 2010)

With just over a month left in 2009, it’s time to start thinking about your finances in 2010. Back in late October, the IRS released details regarding income tax changes for 2010, including (very slightly) modified income tax brackets. Here’s a quick rundown. Federal Income Tax Brackets 2010 Here’s a quick rundown of Federal income […]


Why We Avoid Black Friday Like the Black Death

Let me start by wishing everyone a happy Thanksgiving holiday from all the writers here at FiveCentNickel. Hopefully you’re spending time with family, eating turkey, and falling asleep while watching the Lion’s lose. (I can say that since I live in Michigan and am a long-time suffering fan!) I don’t want to take up a […]


Making Mortgage Prepayments

I recently received the following question from a reader named Merry that’s interested in paying off her mortgage early. I have been making an extra regular mortgage payment in the middle of every month. Currently, my next mortgage payment is not due until May 1, 2010. Is this the best way to put extra money […]


Save Time and Money by Asking for Help

Those that have been following my weekly posts know that we’ll be closing on our new place soon. We’re knee deep in packing, ordering a refrigerator, etc. Everything is moving fast and we’re trying to remain cool. During this time, we’ve benefitted tremendously from the advice and help of our family and friends. We’re first […]


Streamlining Our Netflix Subscription

Back in April, I wrote up a fairly detailed comparison of Netflix vs. Blockbuster. In a nutshell, we started out as Netflix subscribers, eventually migrated over to Blockbuster Total Access for the in-store exchanges, and then came back to Netflix when Blockbuster tightened up their exchange policy. Overall, we’ve been quite happy with this decision. […]


Effect of Foreclosure, Short Sale, and Bankruptcy on Your Credit Score

Have you ever wondered what kind of impact a foreclosure, short sale, or bankruptcy would have on your credit score? Well, wonder no more… According to a recent report from VantageScore Solutions, which is a credit scoring company created by the “big three” (Equifax, Experian, and TransUnion), here’s what you can expect: Short sale = […]


DIY Garage Kayak Racks: Fast, Frugal, and Effective

Today I want to share with you one of my recent home projects… Frugal and effective DIY garage kayak racks. As I’ve continued down the path of voluntary frugality, I’ve gotten more and more interested in DIY projects of all kinds. Whether or not you’re handy around the house, most frugal homeowners eventually jump on […]


Lending Club $25 Bonus Reminder

This is just a quick note to remind you that the good folks at Lending Club are still offering a $25 signup bonus* just for opening a Lending Club account. Here’s how it works… 1. Visit Lending Club using a link in this post 2. Open and activate a lender account 3. The $25 will […]