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This week: How to make your own liqueurs, how to convince your partner to be frugal, the difference between "cheap" and "frugal," why it doesn't matter where your kids go to college, and celebrities with very expensive body parts.

1. Celebrity Body Parts Are Expensive to Insure

[Wealthy Turtle] “The New York Post had a neat slideshow detailing some of the most expensive insurance policies taken out on celebrity body parts. Some of the insurance policies are only rumored so I can’t confirm whether or not they actually exist, but several other websites mention similar policies for the same celebrities so I’m inclined to believe they are legitimate.”

How come celebrities can insure parts of their bodies and the rest of us can’t? Seems to me like this kind of thing should be covered by regular old disability insurance, not done one piece at a time. But if you want to believe celebrities are actually doing this, check out this article for some unbelievable numbers. One example? Mariah Carey’s legs are supposed to be insured for $1 billion. If this is true, I’d love to know what the premiums are and what the fine print of her policy says.

Check out the post for more examples.  

2. Why It Doesn’t Matter Where my Kids Go to College (and Why You Shouldn’t Give a Crap Either)

[Wealthy Single Mommy] “The assumption is that [the] better the school, the better the chance of professional success and financial earnings, and the greater the ROI on the high cost of the very best schools. … But that assumption is wrong … .”

This article, which starts on the author’s website and ends up on Forbes, has lots of statistics to back up the assertion made in the title, namely that where you attend college doesn’t really matter all that much. An example: One study “found that by the time they reached their 30s, top-performing high school students who were admitted to both Ivy League and middle-ranking state schools (like Penn vs. Penn State) earned about the same salaries, regardless of which school they attended.”

If you’re busy scraping to save up $40,000 for every year your kid will be in college, give this one a read.

3. Cheap? Frugal? Why Is There Even a Debate?

[Yes, I Am Cheap] “Frugal used to have a better connotation than cheap did only because a cheap individual was often viewed as miserly, but ask yourself how many times you’ve said, ‘Man, that’s cheap’ as you hopped onto a deal.”

The point of this article, as you might imagine, is that watching your spending isn’t a bad thing, no matter what you call it. I’d take exception to one statement the author makes, however: “Back before the Great Recession, I’m sure that people looked down their noses at people who actively sought deals. Rap stars were talking about how they pop champagne and flaunted all of their bling, designer and celebrity-endorsed everything ruled the airwaves … .”

As someone who’s been at this game longer than most (I’ve been doing stories about saving for nearly 25 years on TV), I can assure this author that what she’s describing was around way before the most recent recession.

4. 13 Ways to Convince Your Partner That Frugality Is the Way to Go

[And Then We Saved] “Maybe you’re ready to start living in a new way, and get your debt wiped out once and for all but your partner wants to keep ordering pizza every other night and is totally fine with having the mega-channel cable package that you are convinced you don’t really need. How do you get on the same page with money, much less convince your partner that being frugal is going to be TOTALLY AWESOME?”

Tips include establishing goals, being patient, having weekly meetings, asking for input, working together and being open to compromise. While they sound like a great plan of attack, I’ve always found that convincing anyone to change in any material way is an uphill climb.

5. 10 Homemade Liqueurs to Bottle for Tasty Gifts

[Wise Bread] “In order to give out your liqueur(s) as gifts, you will also need to gather up some nice bottles or jars, washed and sterilized, and some labels and ribbon. … Most need a cool, dark place for storage and aging, so you’ll need to find a good/safe place in your kitchen or pantry.”

My parents used to make coffee liqueur, something I’d forgotten until I saw this story. After reading it, I may give it a try myself. Most of the recipes appear relatively simple. They include amaretto, Kahlua, cherry liqueur, peach liqueur, nocino, limoncello, apple liqueur, anisette, chocolate liqueur and Irish Creme.

What do you like?

We’re always on the hunt for talented personal finance writers and interesting sites. If you’ve got a favorite, let us know below or on our Facebook page! You can also talk to us about anything you’d like simply by hitting “reply” to your daily email update. (Not subscribed? Fix that right now!)

Stacy Johnson

It's not the usual blah, blah, blah

I know... every site you visit wants you to subscribe to their newsletter. But our news and advice is actually worth reading! For 25 years, I've been making people richer without making their eyes glaze over. You'll be glad you did. I guarantee it!


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