I recently drove my daughter to the University of Washington for her freshman year. Everything seemed to be in order—she had a new account with Wells Fargo, she had a new phone, her books, and a cozy room to share with someone who seemed sane enough. I drove home no more concerned for my daughter than I naturally should be.

Two days later, though, she called in near hysteria. Apparently, she had spilled coffee on her laptop, and hadn’t been able to revive it. When I said I’d buy her a replacement, she asked if she could also get a tablet of some sort, and said that most of her friends could accomplish more on both a social and academic level with said gadgets. For the time being, I’m replacing just the computer. Then I’ll gift her with a tablet for Christmas…but which one?

As someone who takes pride in being frugal, my gut response is to buy her an older, still well functioning Kindle Keyboard. I could solve her technological problems with just a single Ben Franklin. But not so fast: if she wanted an ad-free model that provided Wi-Fi service, we’re looking at steeper prices (somewhere between $169 and $189). That’s nearing the Kindle Fire price range. If the Fire or iPad2 can provide her with more tools for academic success, as well as for social connectivity (hey, I want my daughter to be happy, too), then maybe it is worth checking out. After all, “frugal” doesn’t just mean “cheap.” It means “cost-effective” and “resourceful.”

The new Kindle Fire is dazzling for the eye that’s accustomed to the austere, black-and-white mode of the original. It operates using the Amazon Silk browser, which means the server can process demands on both a local level, and also on the Elastic Compute Cloud. If you want to free up some space by keeping a minimal amount of books on your Kindle, you can store the rest of your data in the Cloud. However, the internal memory of the Kindle Fire weighs in at a mere 8GB, and only 6GB are usable. There is no expansion slot to help remedy this.

The iPad2, on the other hand, comes with 16GB of internal memory, with variants of 32 and 64GB should you want the upgrade. This device also operates on a cloud system called—predictably—iCloud. This is a very important factor to my daughter, who’ll be saving a lot of information on the tablet, including movies (she’s a film studies major).

There are iPads capable of operating on a 4G service, but those are much more expensive, and some compromises need to be made if I’m going to spend more money. The iPad2 is a tad heavier, but it’s also a bit sleeker. Also, she’ll want to have a working camera on her tablet, which is a feature you won’t find on the Kindle Fire. I, for one, would forego the extra expense for this, but I must keep in mind that this is an investment for my daughter, not for me. And so being frugal isn’t just about what’s cost-effective, but also about what’s durable, lasting, and appropriate for her. By the way: the iPad2’s camera? It’s capable of 720p HD video.

It’s true that the iPad2 starts at $499.99, which makes it $300 more expensive than the Kindle Fire. And it’s true that I’d leap on a Kindle model were this a purchase for myself. But the iPad2 seems more flexible, more dynamic, and more likely to thrill my daughter at Christmas. I’m all for saving money now, but I get the feeling that the Amazon Kindle ‘s cheaper price is more an apology than a bargain, and that my investment will save me more in the long run. The iPad2, therefore, is the smartest and the most cost-effective choice, the buying it will allow me to maintain a sense of frugality. Besides, as an informed consumer, I understand that time, alone, will reduce the hit on my wallet—the holidays bring deals every year, making patience as much a virtue as frugality is.

For the latest coupons and promotional deals from Amazon, check out the Frugal Dad Amazon Coupons page.

Neal, what is Money School for Couples?

It’s a series of 10 videos, exercises, downloads and white papers to help couples make money a non-issue in their relationship.

Why did you create it?

Over the last 25 years advising clients, I’ve seen so many people worry and fight about money when they really didn’t have to.  That’s a real shame if you ask me.

You had it pretty rough financially and emotionally growing up.  Did that have any impact on this project?

Probably….but not consciously.  I grew up in total financial fear. Both my parents passed away when I was in high school and I was homeless for a short time.  Even when I started having financial success, I stayed stuck in fear.  I made myself, my wife and my children absolutely miserable. In my case, having money didn’t solve any of my problems….it just changed them.

Those experiences remind me to be grateful for all the great gifts I have in my life. Do I need money?  Yes.  But I have to stay balanced.  Working for money has a cost too.  So if I spend and work wisely, I can have a great life.  It’s not just about spending.  It’s not just about making lots of money either.

I think it’s easy to lose sight of our gifts and sometimes, money really gets in the way of having a full and happy life.  At least that’s been my experience.  It’s about balance.

Why do couples argue about money?

One third of the problem is caused by not really understanding how money works.  How to budget, spend, get out of debt, save etc.  This is simply an issue of understanding. When one or both people fail to understand how money works it often leads to huge mistakes and arguments.

Another third of the problem is caused by not being on the same page with each other. This is a communication issue.

The final third is caused by not taking action.  Lots of people know what to do but for some reason they just don’t do it.

Neal, with all due respect, there are plenty of books that address each of these issues.  What makes Money School different?

I think there are three main differences.  First, I present the material in several 5 to 10 minute videos that are designed to be watched by the couple together.  It’s one thing to throw a book at your husband and tell him to read it.  It’s quite another to sit down together and go through the material.  In fact, the very first video has the couple give each other a signed commitment to work through all the exercises together.  What book does that?

The second difference is that each module has exercises which are designed to get the couple into action and on the right path moving forward.

The last difference is that Money School for Couples recognizes that folks often know what to do and still don’t get it done.  The program offers solutions for those problems too.

In short, it’s the only program I know of which deals with all three obstacles – and you have to deal with all three if you want to really make progress.

Can you give me an example of a couple who might benefit?

Sure.  In fact, I wrote about this couple on Wealth Pilgrim not long ago.  They are in their 30’s.  The husband is very tight-fisted and his wife is miserable. He wants to save everything he can for retirement. His wife also wants to save for the future but wants to enjoy life today too.  What they need is balance.  They can fight all they want…they’ll never convince the other who is right and who is wrong.

Money School will show them how much they need to save to achieve their goals and how much they can comfortably spend.  The program will allow them to learn together and come to joint decisions.  This is a perfect example of who this program is designed for.

I read in your blog yesterday that you had some real ambivalence about introducing this product to your readers…why?

Right.  I was really concerned about sending a marketing e-mail to my subscribers.  They never signed up for that so I just couldn’t send them one.  That’s why I’ve opened up the pre-launch program for anyone this week. I wrote about the product on my blog and anyone who is interested can take advantage of the pre-launch price this week. That goes or Frugal Dad readers too.

It’s also a bit weird for me to sell anything on my blog or through the internet.  I’ve never done that before and I just had no idea how people would react to it.  In the end, I just decided to do it but be as transparent as possible.  We’ll see what happens.

Thanks Neal.  Good luck with Money School for Couples!

• Investing
• Budgeting
  
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• Retirement
  

I think this is a great product, particularly for someone in need of an introductory lesson on a broad range of financial concepts.  If you just read and absorbed one single concept a day for one month you’d be exposed to 30 different personal finance terms and products.

When I was in my early 20′s I knew very little about personal finance concepts, such as mutual fund investing, bonds, etc.  I spent a lot of time pouring over personal finance books trying to get a basic grounding in these concepts.

Too bad Nuru’s personal finance cards weren’t around back then!  I could have tossed them in my book bag and reviewed them during breaks in between classes.  The cards even come with a key ring, and the cards are punched so they can be loaded and transported together on the ring.

At $10 per deck, they are not necessarily cheap.  However, try buying a personal finance book (or books) that covers the range of subjects these compact decks cover for less.  They make a great gift for yourself, someone else, and as a bonus for fellow bloggers, these make an excellent reference when drafting posts on a particular subject.

Money Mammals, the Baby Einstein of Financial Entertainment for Kids

Very few companies have tapped into the children’s financial education market, which is a bit surprising considering how desperately our children need a proper financial education. Perhaps it is because many still consider financial education a bit boring. I remember suffering through my share of borning finance classes in college, and can imagine the subject of money is even less interesting to a child. However, Money Mammals present their message in such an entertaining way that I suspect kids don’t even realize they are learning. The music, artwork and puppetry is masterfully done in a quality comparable to the popular Baby Einstein DVD series. I even found myself singing the theme song the day after…”We Share and Save and Spend Smart Too. We Share and Save and Spend Smart Too.” Trust me, it’s an addictive little tune!

The Money Mammals Website

The Money Mammals website offers a wealth of resources for both kids and their parents, including links to their online store, Club Money Mammals (which features several games for kids, all centered around the concept of money management), and video presentations. If you have kids of your own, or are a grandparent, aunt or uncle, I strongly recommend you check out Money Mammals today. This is just the kind of thing young kids need today. It would also make a great birthday present to help a little one become a frugal “money mammal!”

Additional Resources:

• Purchase the Money Mammals DVD at Amazon.com
• Club Money Mammals (customized for Rogue Federal Credit Union)
• Sarah Harden, financial consultant for Money Mammals, reviews the concept of sharing
• Product Reviews and Testimonials