-------------------- Thursday, September 09, 2004 -------------------- Lenders Beware Whew. There sure are a lot of deadbeat borrowers out there. Last week I asked readers to e-mail me their stories of how they played banker and were left with an IOU. Well, the stories have been heartbreaking, horrible and hilarious. Here's a sample of what I've received (for obvious reasons I'm withholding names): "I have season tickets for the NFL with a friend of over 20 years," one reader wrote. "A couple of years back, he was having some money problems and I paid for his season tickets (about $300). He promised to pay it back ASAP. About 5 games into the season and he's looking at me like I'm crazy when I ask him if he'll be able to repay soon. Boy, did he get an attitude. I explained that I wasn't pressuring him. It's just that I expected the money to be paid back in a reasonable amount of time and now I need the money 'cuz I'm running a little short and the mortgage is due. His response was that I should learn how to manage my money a little better. He did wind up paying me back about two weeks later. I learned a valuable lesson." I hope that lesson was you have a jerk for a friend. The nerve of this guy giving his friend a lecture about money management! Read on: "I sold my car (I could have gotten twice as much from someone else) to my best friend and told her to pay me when she could. After more than a year had passed, I was getting married and could use the money. I asked her if she could start to pay me back in installments. To this she replied, 'I'm trying to buy a house and I will see what I can do.' I couldn't believe it. Needless to say, the friendship was ruined. After 8 years, we're talking now, but I learned never lend more than you're willing to lose." This next e-mail is evidence that some people need to have their butt whipped. A reader wrote: "My boyfriend asked for $15,000. He wrote a promissory note [which included a provision] for interest. He promised to pay me back in a year. I had received the money from a mortgage loan I had taken out to buy myself a new home in Florida." The woman bought a home and allowed the boyfriend to move in. But he was using the money he had borrowed to pay his share of expenses. "It was like I was paying him to live with me," the woman wrote. Even I couldn't believe what happened next. Her boyfriend called the police after they got into an argument over the money he had borrowed. "I got arrested in my own home. I was thrown in jail. It cost me $6,000 to hire a lawyer to get my arrest record expunged and to sue the ex for my money! I still haven't gotten it!" I truly hope Hot in Florida, as she signed her e-mail, has figured out where she went wrong. Ladies (and gentlemen), if your honey needs to borrow a large sum of money, you need to show him or her how to fill out a loan application - from a bank. I would still love to hear from borrowers? Don't be afraid. I just want to know why all the excuses? Why don't you come clean if you don't have the money? Give us some insight. E-mail me at [EMAIL PROTECTED] - [EMAIL PROTECTED] .What to Do With a Windfall Did you see "Jeopardy" last season and the awesome answer man, Ken Jennings? If not you have to read about his performance - http://letters.washingtonpost.com/W8RT044E2E4E82949E17F3F5FF52A0 Jennings was unstoppable until a show taped Tuesday - http://letters.washingtonpost.com/W8RT044E2E0EB2949E17F3F5FF52A0 that will air in the fall, according to TV Week's Web site - http://letters.washingtonpost.com/W8RT044E2E1EA2949E17F3F5FF52A0 . He ended up winning about $2.5 million overall in cash and prizes, according to TV Week sources. Jennings's success at answering trivia questions makes me wonder: What would I do if I won such a large sum of money? Susan B. Fulton, managing director at WealthTrust.FBB in Bethesda says if you come into money -- a life insurance payment, car accident settlement, 401(k) payout -- play smart. "There is an inherent excitement that comes with the receipt of unexpected money and many make foolish mistakes," says Fulton, who is a certified financial planner. So what should you do if you get a lump sum of money? "Your first steps should be dictated by your life priorities," Fulton advises. Your second step should be to find a professional to help you figure out what to do with your windfall. If you're not sure where to start, click on this column - http://letters.washingtonpost.com/W8RT044E291152949E17F3F5FF52A0 that may help. Educators Tax Break Recently, I urged people to support legislation - http://letters.washingtonpost.com/W8RT044E292142949E17F3F5FF52A0 that would reinstate the federal tax break educators used to get. Well, one reader made a good point. She wrote: "I have worked as a school secretary for the past 18 years. I agree that teachers should be granted a tax break for all of the supplies that they purchase for the classroom. But, I think that the support staff should be considered in this break, also. As a secretary, I have bought so much for the staff and students out of my own pocket over the years -- from rewards for students to activity books -- to keep them busy while I baby-sit them on bad weather days or when they can't go outside because of an illness or a behavior problem. When I see classroom and office supplies on sale, I often purchase them because we need them. I am sure you are well aware that the income of the secretaries in school systems doesn't hold a candle to the income of the teachers, so I think it would be nice to be considered for that same tax break." I agree. Penny Pinchers John McKee of Falls Church hit this way off the green for me. He wrote: "My wife and I decided to take on the task of painting the hallway upstairs including the high ceilings above the steps. Instead of buying a long extension roller to reach the ceiling, I thought I could use something I already had in my golf bag. That's right, I used my ball retriever that extends 30 feet. I simply duct taped a roller on the end of it and I was painting my high ceilings in no time. I saved time and money, which I hope to use on the golf course chasing balls with my retriever." Read Past Penny Pinching Tips - http://letters.washingtonpost.com/W8RT044E299172949E17F3F5FF52A0 You are welcome to e-mail comments and questions to [EMAIL PROTECTED] - [EMAIL PROTECTED] . They may be used in a future column or newsletter with the writer's name unless otherwise requested. -------------------- Advertisement Get your news just the way you like it. - http://letters.washingtonpost.com/W8RT044E290162949E17F3F5FF52A0 Add your favorite columnists and topics to a washingtonpost.com newsletter delivered to your in-box each morning. It's a free and easy way to make sure you never miss a thing. Personalize your e-mail today - http://letters.washingtonpost.com/W8RT044E295112949E17F3F5FF52A0 and enjoy customized articles tomorrow. -------------------- SELLING US The Quirks of Queuing Up - http://letters.washingtonpost.com/W8RT044E296102949E17F3F5FF52A0 I went to the Rite Aid across from my office the other day and found a slightly awkward situation: an impromptu bank line. A group of customers, rather than lining up behind individual cash registers, had formed one single line that fed all the cash registers, as at a bank or airport ticket counter. Read More Selling Us Columns - http://letters.washingtonpost.com/W8RT044E293132949E17F3F5FF52A0 -------------------- MUTUAL FUNDS Federated Manager Is Wary of U.S. Equities - http://letters.washingtonpost.com/W8RT044E294122949E17F3F5FF52A0 Steven Lehman is avoiding the U.S. stock market in his $1.7 billion Federated Market Opportunity Fund because he says equity prices may be lower 10 years from now. Research Mutual Funds - http://letters.washingtonpost.com/W8RT044E2921D2949E17F3F5FF52A0 -------------------- CONSUMMATE CONSUMER Reporting Rip-Offs (As Seen on TV!) - http://letters.washingtonpost.com/W8RT044E2931C2949E17F3F5FF52A0 Whether it's the latest miracle ab exerciser, a get-rich-quick scheme or a weight-loss supplement, many of those call-now-and-order products hyped on infomercials and TV shopping networks are nothing more than tacky junk. Separating the rip-offs from the useful gadgets isn't always easy. Read More Consummate Consumer Columns - http://letters.washingtonpost.com/W8RT044E2901F2949E17F3F5FF52A0 -------------------- WASHINGTON INVESTING Real Value In a Mall Sale Is in the Property - http://letters.washingtonpost.com/W8RT044E2911E2949E17F3F5FF52A0 The sale of Rouse Co. of Columbia for $12.6 billion has made investors realize that a major regional shopping mall is a lot like a piece of land -- valuable because they aren't making any more of it. Read More Columns by Jerry Knight - http://letters.washingtonpost.com/W8RT044E297192949E17F3F5FF52A0 -------------------- Tools Resources Personal Finance News and Columns - http://letters.washingtonpost.com/W8RT044E298182949E17F3F5FF52A0 Business Section - http://letters.washingtonpost.com/W8RT044E2941B2949E17F3F5FF52A0 Market Indices and News - http://letters.washingtonpost.com/W8RT044E2951A2949E17F3F5FF52A0 Get Stock Quotes - http://letters.washingtonpost.com/W8RT044E293052949E17F3F5FF52A0 Create/Manage Your Portfolio - http://letters.washingtonpost.com/W8RT044E294042949E17F3F5FF52A0 Find a Job - http://letters.washingtonpost.com/W8RT044E291072949E17F3F5FF52A0 Find a Car/Sell a Car - http://letters.washingtonpost.com/W8RT044E292062949E17F3F5FF52A0 Find a Home/Sell a Home - http://letters.washingtonpost.com/W8RT044E297012949E17F3F5FF52A0 -------------------- E-Mail Newsletter Services To sign up for additional newsletters or get help, visit the E-mail Preferences Page - http://letters.washingtonpost.com/W8RT044E298002949E17F3F5FF52A0 To unsubscribe, visit the E-mail Preferences Page - http://letters.washingtonpost.com/W8RT044E295032949E17F3F5FF52A0 (do not reply to this e-mail). 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