Preaching Financial Fitness

By Kelly Carr
September 22, 2008

At a recent family gathering, Gregory Karp and his father-in-law wondered if using rechargeable batteries actually saves money.

The pair wasn’t sure, but Karp was ready to investigate. He talked to experts and scoured through documents, eventually determining that over time reusable batteries have the potential to save consumers hundreds of dollars.

This is a typical scenario for Karp, whose work as a columnist for The Morning Call (Allentown, Pa) has him always searching for ways to save his readers cash.

For five years, his columns have offered simple, savvy savings tips. Which razors last the longest? Is organic food worth the cost? What’s the cheapest way to remove stains? Loyal readers know they can find answers to everyday spending issues inside Karp’s personal finance column.

“It’s a topic that’s near and dear to my heart. I’m kind of a cheapskate,” Karp said. “I’m fascinated with consumer behavior and how consumers can protect themselves.”

Although Karp has a lengthy journalism background, he wasn’t always a columnist. It’s something he fell into after working as a business editor and reporter.

For New Year’s coverage in 2003, Karp wrote a piece on money makeover resolutions. Through the story he discovered a new focus on personal finance that seemed under most reporters’ radar.

Around the same time, the Tribune Co., which owns The Morning Call, was looking for a new column and Karp suggested that he offer readers tips to save money. The column achieved instant popularity.

“I found out there was this whole underbelly of frugal people who where sharing ideas and had amazing techniques and strategies for saving money,” Karp said. “It was a topic that a lot of personal finance reporters were not writing about. They were mostly covering investing.”

The buzz over Karp’s column has continued to increase over the last few years. It’s now syndicated, running in newspapers that have included The Baltimore Sun, the Chicago Tribune and the Los Angeles Times.

The award-winning column – recently recognized by the Society of American Business Editors and Writers -- has also led Karp to a book project.  “Living Rich by Spending Smart,” which was released in February, is one of the top 50 finance books on Amazon.com. The book features excerpts from Karp’s columns and offers readers a basic understanding of how they can become “financially FIT” by making cuts in areas that include food, insurance and telecommunications.

“I can guide the reader more than in a straight news piece. I know what’s best for you and I can tell you what is,” Karp said. “There are inferior choices and superior choices. It doesn’t do the reader any good to present them and let them figure it out. I view that as my job.”

Now in a troubled economy where many of his readers are struggling to make ends meet, Karp realizes that writing this type of column is a serious responsibility. The heartbreaking stories from people who just lost a job or who are in financial trouble continue to mount.

So Karp spends hours researching his advice to ensure that what he shares is factually correct. And the hours of reporting, he said, are worth it.

“You really can help people, especially with advice columns,” Karp said. “You really make a difference in their lives.”

To read Karp’s columns click here.

Copyright © 2008 Donald W. Reynolds National Center for Business Journalism