I received the following email from a reader and wanted to toss it out as an “Ask the Reader” post.  I’m certain there are people out there smarter than me on the subject, and can offer some solid advice for those holding money in banks such as WaMu.  From my limited knowledge and experience in the banking industry I do know that the FDIC insures the first $100,000 of money on deposit with banks.  Above that it gets dicey because while those with money on deposit in excess of $100,000 do get the opportunity to stake their claim to any remaining bank assets, so do creditors and a long list of other investors.

Unfortunately, I don’t have to worry about savings above $100,000 (yet).  For the amount we do have in emergency savings we keep up with our last statement just in case we are required to show proof of our account balance in the event of a bank shutdown or data loss.  In addition to the information savvy readers will share in the comments here, I recommend readers check out Trent’s recent post at The Simple Dollar, Will My Money Be Safe.  It provides a nice run down on the rules for various types of investments.

Here’s a copy of the message I received:

I just started a WaMu savings account for my growing emergency fund.  Now with the news they are next in line to be either bought out or bailed out should I be worried or moving my money?   I know my money is protected by the FDIC but I don’t want to go through any processes like that to get it back if something happens.  Should I just sit tight or should I be opening another account else where?

What advice do you have for this fellow reader?  Are you in a similar situation?

Happy Fourth of July!  I’m finally getting a much-needed break from work and plan on unplugging from my normal routine for the day.  We’ll probably grill out in the backyard and enjoy a lazy afternoon at home.  There are plenty of things I should be doing, but today I think I’ll just enjoy the rest.  Be sure to take a moment and remember those serving our country around the world.  Without their sacrifices, and the sacrifices of their families, we would have no independence to celebrate!

I’d like to use this break in the action to ask an important question that’s been on my mind.  Why do you visit FrugalDad.com?  What separates Frugal Dad from the other personal finance blogs in your reader?  I’m hoping to use your answers to improve my content, design and general concept moving forward.  Don’t worry–no major overhauls are in order, I just thought since my six month blogging anniversary has come and gone it would be a good time to get some feedback.

Why Do I Visit Other Blogs?

I currently have over 125 blogs in my feed reader, and I get a couple of my favorites via email every day (for those days when I just can’t make it to my reader).  The blogs represent a collection of topics of interest to me, and are organized in various folders.  My largest folder (no surprise) is personal finance, but I also have collections such as parenting, blogging/writing, and even a couple sports-related blogs.

Do We Only Read What We Want to Hear?

In my first six months as a blogger I’ve touched a few nerves, and received my share of unfriendly comments and emails. But that’s fine with me.  The world would be awfully boring if everyone agreed with everything each other said.  I personally subscribe to several blogs because I enjoy the writing, or the viewpoint, of 95% of the content.  Occasionally, I read something I don’t agree with, but I actually enjoy that aspect of reading.  In fact, I’ve made it a point to read books, articles and blogs on things I don’t necessarily agree with because it stretches my thinking.  I’m rarely persuaded to change my mind, but reading another point of view helps me constantly challenge my line of thinking on a particular subject.

Reading About Other’s Success Inspires Me

My introduction to blogging occurred when I stumbled upon The Simple Dollar in late 2006.  I was home recovering from rotator cuff surgery and had little to do but surf the web and watch CSI Miami reruns. Over the last couple years I’ve followed Trent’s journey from financial meltdown to accomplished author (yes, he recently signed a book deal and just completed his manuscript).  There are many other great stories out there of people who have overcome large amounts of debt, survived company layoffs, serious health issues, etc.  Their perserverance is what inspires me to keep plowing ahead with my own goal to live completely debt free and move towards financial independence.

I’d appreciate it if you would take a moment or two to leave me a comment.  If there is something you would like me to improve upon, I’d like to hear that, too.  Thanks to those of you who have signed up to receive my daily articles, and to others who stop by during the day to visit.  One of the unanticipated benefits of joining the blogging community has been the opportunity to (virtually) meet many new wonderful people.

Is sneaking in candy to a movie theater being frugal or being cheap (and dishonest)? I posed that question to the Wise Bread forums a couple weeks ago and received some interesting responses. It seems a majority of people there think the practice is acceptable, as long as there aren’t signs posted specifically forbidding the practice. I’m interested to get your feedback as well, and I’ll share a few of my thoughts on the subject.

Here’s a copy of my original Wise Bread post:

My wife and I went somewhere last weekend we had not been in a long, long time - a movie theater! I hit the boxed-candy-for-a-dollar section at a nearby Target and picked up a couple boxes of our favorites to “sneak in” the theater. My wife said I was a cheapskate.

Normally, I would thank her for the compliment, but this time her comment had me thinking. Is sneaking in candy to a theater being cheap, or being frugal? I don’t normally think of myself as being cheap, but in this case maybe she’s right. But $3.00 for a box of M&Ms?!

After giving this scenario some thought I’ve come to the conclusion that sneaking candy into theaters is cheap, and possibly dishonest. After all, concessions seem to be where most theaters make their money (along with a percentage from ticket sales). While bringing in your own candy may appear to be a smart frugal move, and it is admittedly much cheaper than buying from the concessions stand, the smarter move would be to simply skip the candy altogether. And if I just had to satisfy a sweet tooth I should suck it up and buy a box of $3.00 M&Ms from the theater.

Some of you are probably shaking your heads wondering how the “Frugal Dad” could come to such a conclusion. Well, maybe it is the eternal capitalist in me that sees that a business has the right to sell refreshments and request outside refreshments not be brought in. After all, if I don’t like that policy I can stay home. I also think this folds into my way of thinking - live frugal, but stop to smell the roses. In the grand scheme of things, a box or two of movie candy or a large tub of popcorn is really not going to make or break us. As long as we budget for the expense, and pay cash, there isn’t any reason why I can’t treat the family to a few splurges every now and then.

Ask the readers: So what’s your take on this issue, moviegoers?

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photo by Thinkcage

I am considering a move to change the posting frequency here at Frugal Dad, and I wanted to gather input from my readers. Currently, I post once daily, including a weekend roundup and Saturday morning book review. Going forward, I will incorporate short reviews of books as part of larger posts on theme with my readings. The dedicated, Saturday morning book reviews were not very popular gauging from the lack of comments. And that is alright with me; to be quite honest they are a chore to crank out each week and I can use this time to deliver more frugal living content. My 52 Books in 2008 mission lives on, however I will no longer write about each book in great detail.

Back to posting frequency - what are your thoughts on twice daily blog posts? As a fellow blog reader myself I have mixed emotions. Like most of you, my feed reader subscription list is pretty long (93 blogs, at last count), and I rarely get to all of them each day. When a blog posts twice a day, it puts me that much further behind. However, if I enjoy the content I look forward to morning and early afternoon posts to help break up the day.

What say you, readers? Please share your thoughts on the one or two posts per day dilemma in the comments below.