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Letter to the editor

Money Questions: Tasty tidbits on your dollar menu

We asked: What's the best thing you've bought for $1 or less?

By Helen Huntley, Times Personal Finance Editor
Published January 27, 2008

We asked

What's the best thing you've bought for $1 or less?

In the 1950s as a young kid, I was able to get into the Saturday morning cowboy movie tripleheader for the princely sum of 15 cents. That's, of course, when a dollar in your pocket meant something.

John McBaine, Indian Shores

I'm a garage sale enthusiast and I have purchased many interesting things for $1, including a chandelier currently hanging my one of my bathrooms and a GPS-enabled cell phone.

Wendy Drumwright, Tampa

I have found several great books for 99 cents on Amazon.com, a Nine West purse on eBay, and I occasionally find my favorite Estee Lauder lipsticks on eBay new for 99 cents.

Lindsay Myers, St. Petersburg

At Target I found hats covered in glitter for $1 that I'll use as centerpieces for my son's bar mitzvah. They were a steal.

Jerilyn Stein, Largo

A music download. I love classical music, and every bit that I can add to my collection is a bargain at 99 cents or less per piece, especially more obscure pieces that are hard to find or otherwise would have to be special-ordered on CD.

Margit Crowell, Spring Hill

A gentleman and his young son were standing in front of the St. Pete Times Forum and asked if we needed tickets to the NCAA hockey tourney. I replied that we needed four and asked how much he wanted for them. He said nothing - take them. I offered the son $5 to buy something at the game and the father said no. I said "at least take a buck," and he did.

John Sheehy, Dunedin

You asked

What are the pros and cons of CDs bought with minors' names as owners and my name as custodian? Friends tell me that buying CDs in my grandchildren's names would save me on taxes because the IRS does not tax minors.

Children do not pay taxes on the first $850 of investment income. If you title your CDs as you propose, you will save on your taxes but the money legally will belong to your grandchildren. You cannot take it back if you need it and they will be entitled to full control at age 21.

Money titled in the name of a child also may reduce eligibility for college financial aid. Another alternative is to use the money to set up 529 college savings plans, such as the Florida Prepaid College Plan and the Florida College Investment Plan visit www.florida529plans.com.

What are penny stocks?

Penny stocks are simply low-priced stocks, which means less than $5 a share by one common definition. They are considered high risk because often they are unproven startup companies or companies that have fallen on hard times.

Next week's question

What will you do with your share of the tax rebate?

To ask a question, make a comment or answer the Money Question of Week, e-mail hhuntley@sptimes.com or write Helen Huntley, P.O. Box 1121, St. Petersburg, FL 33731. Visit her MoneyTalk blog (blogs.tampabay.com/money) for more money information.

[Last modified January 25, 2008, 21:46:25]