It is so easy, it seems, to lose sight of good things we already have. Well, lose sight is perhaps a bad choice of phrase. Re-value (is that even a real phrase?) would be more descriptive of the feelings flowing through my head a few weeks ago. Routinely my wife and I go for walks in the evening. We try to walk together at least once a week. The walking is not so much exercise but rather a way to spend time together and share ideas. There are times when there is everything to discuss and others when a setting sun gobbles up all the words and treats us to a quiet, free nature’s painting.
The other day, to be different, we walked around the neighborhood across the street. How easy it is to get caught up re-valuing what you own. All of those houses have three car garages, mine has two. All those houses have professional landscaping, ours has a single starter tree and some purple and some white flowers my wife planted. I am sure if I looked they all have four bedrooms and finished basements. Our house has three and exposed concrete and insulation in the basement.
Funny how in the time it takes for a brief walk I can go from being totally great with my house to feeling that it is the “small” one in the area. It did flash through my mind as I walked, “what can I buy to make my house look and be better?” I re-valued for the rest of the walk back. That night I resisted running out and buying something “well deserved”. For the next few nights I thought about what I should buy so my house could “compete” a little better against surrounding houses.
Finally after a few days I stopped contemplating and returned to the thinking I had a year ago when we first moved into the house. I like the home, I like the yard, I like the neighborhood, and above all I love who I am living with. Let others compete against that.
That is it for today. Keep the re-valuing to a minimum, and keep an eye on your EveryDay Money.
Saturday, April 29, 2006
Tuesday, April 25, 2006
Money Books I
If you haven’t taken a look at Dave Ramsey’s book “The Total Money Makeover” then you need to. Even if you have your financial life in order it is still a good read. Throughout the book there are stories from real people that are “getting it done”. Some of these people have pulled themselves out from under a truckload of debt. If these stories can’t get you pumped up about fixing your own money life then you may already be too far gone. The ideas are neither totally new nor particularly hard to understand. Some may say just common sense advice.
Another good guidebook I have read lately is “The Automatic Millionaire” by David Bach. Another straight forward easy to read and understand money book. The main idea that I got out of reading both books is spend less than you make. After that there are ideas and advice on what to do next and how better to utilize money but is still comes back to the spending.
Why do you think so many people screw up their money when there are good money books aplenty? Is it a lack of intelligence? Or is it a problem of focus, discipline, desire to get it all under control? Perhaps a better question is do they know their money life is screwed up? When exactly does a drowning man know for sure he is drowning? Let your thoughts be known, anonymous or by name. I would also like to hear if you have read these books or know of others that are worth sitting down and reading.
That’s it for today. Keep an eye on your EveryDay Money
Another good guidebook I have read lately is “The Automatic Millionaire” by David Bach. Another straight forward easy to read and understand money book. The main idea that I got out of reading both books is spend less than you make. After that there are ideas and advice on what to do next and how better to utilize money but is still comes back to the spending.
Why do you think so many people screw up their money when there are good money books aplenty? Is it a lack of intelligence? Or is it a problem of focus, discipline, desire to get it all under control? Perhaps a better question is do they know their money life is screwed up? When exactly does a drowning man know for sure he is drowning? Let your thoughts be known, anonymous or by name. I would also like to hear if you have read these books or know of others that are worth sitting down and reading.
That’s it for today. Keep an eye on your EveryDay Money
Sunday, April 16, 2006
Mortgage free?
Quick question: Is being mortgage free a realistic goal?
I am sure you have heard the idea, pay an extra monthly payment once a year and you drop like 5 years off your mortgage. Go really wild and you can get it done in 15 years. Push really hard and it is 7 years. But is that realistic? I read an article that says the average credit card balance for those that have a balance is like 9 thousand. If we can’t even get a hold of our credit cards balances do we really have a hope of being mortgage free? Well mortgage free before we turn 90. So what do you think? Mortgage free a reality? Are you trying to get yours done before the stated term? If so how quick of a goal do you have?
For me the answers are: yes, yes, 6 years total.
That’s it for today. Keep an eye on your EveryDay Money.
I am sure you have heard the idea, pay an extra monthly payment once a year and you drop like 5 years off your mortgage. Go really wild and you can get it done in 15 years. Push really hard and it is 7 years. But is that realistic? I read an article that says the average credit card balance for those that have a balance is like 9 thousand. If we can’t even get a hold of our credit cards balances do we really have a hope of being mortgage free? Well mortgage free before we turn 90. So what do you think? Mortgage free a reality? Are you trying to get yours done before the stated term? If so how quick of a goal do you have?
For me the answers are: yes, yes, 6 years total.
That’s it for today. Keep an eye on your EveryDay Money.
Sunday, April 02, 2006
Paying for Credit Cards
So I get this very nice envelope in the mail the other day. And inside this very nice envelope is a very nice letter telling me that because of my years of customer loyalty that I have been pre-approved for no-other than a (or should I say) no-other than THE gold card. The first year totally free. I looked closely at the fine fine fine print and after the first year THE card was going to cost me… like 9 million dollars just to have in my pocket. My shredder got an early evening snack.
Folks, People, Smart guys and gals… STOP!! If you are paying any dollar amount every year merely to have the card. Well that behavior (not you personally) is stupid. There are like hundreds of cards that cost you nothing. And if you are good and pay what you owe every month then it is stupid (behavior not you :-) ) not to have a cash back or rewards card making you money every month. With our rewards card that earned us gift certifs my wife now has a digital camera and rechargeable batteries all for a grand price of $10 out of pocket.
Short answer:
1) Don’t pay to have a card
2) Pay your balance off every month
3) Get a good rewards or cash back card
4) Make money off your spending.
That is it for today. Keep an eye on your EveryDay Money
Folks, People, Smart guys and gals… STOP!! If you are paying any dollar amount every year merely to have the card. Well that behavior (not you personally) is stupid. There are like hundreds of cards that cost you nothing. And if you are good and pay what you owe every month then it is stupid (behavior not you :-) ) not to have a cash back or rewards card making you money every month. With our rewards card that earned us gift certifs my wife now has a digital camera and rechargeable batteries all for a grand price of $10 out of pocket.
Short answer:
1) Don’t pay to have a card
2) Pay your balance off every month
3) Get a good rewards or cash back card
4) Make money off your spending.
That is it for today. Keep an eye on your EveryDay Money
Sunday, March 12, 2006
Check cashing
Welcome to EveryDay Money,
Let me jump right in from the beginning. People, me included, do some of the dumbest things with money. If we can minimize the number of stupid things that we do with our money, then we may find that we can simply do more things with our money.
Hmm.. Perhaps I should stop, jump halfway back out and mention a few things first. I am NOT a professional money person, any and all information, pictures, ideas, stories, mistakes of the dollar, clever thoughts or usage of same are not meant to solicit, force, demand, you to buy, subscribe, read, think or ponder your EveryDay Money. Make no money or life decisions without first being ready to take responsibility of said decisions. If you do any of these things, let’s see, it is because you are a free thinking responsible human being. In short reading, thinking, doing is your own responsibility and can not be delegated or transferred to another every time you screw up.
Back in we go. The other day I am standing in line in the lobby of Bank of America waiting to cash a small check. I was in Bank of America because they have my small account, so I bring them my small checks to cash. They are happy, I am happy. So, I am standing there in line, two people behind me was this young man about 18-19 years old. He too had check in hand. Come to think about it the guy behind me also had a check. Perhaps a trend for that day? As it would happen we all get to the counter within second of each other. I have one on each side of me. My BOA lady takes my check and is using the drive-up computer on the other side so I have a minute. The kid beside me is cashing an AMC theater payroll check. (Sound travels in a quiet bank.) I am thinking good for him, has a job and everything. (I always try to applaud those that can work and do, beats those that can and won’t.) The lady asked him if he has an account. No. (What! A job and no savings account... say it ain’t so. Hasn’t your mother ever told you… perhaps not?) The nice lady informs him that since he doesn’t have an account it will COST him $5 to cash his check. He replies, “No problem.” He says no problem to someone taking $5 of his money for a 2 minute conversation. Interesting. Stay with me here: Pay check every two weeks (I am guessing, I know nothing about AMC theaters besides they are big and evening shows cost enough that they should come with an autograph of every actor in the movie. Free.)
Cost of cashing check: $5. Cost of two cashing per month: $10. Cost of cashing 12 months in a year: $120. $120 of his money in the bank’s pockets at year’s end: price…. Oh! Can’t say that, lawsuits and all. Anyway, I submit $120 a year to cash checks is stupid. I know of at least two banks and there may be more around here that $100 will open a basic savings account, no fees. Cost of cashing checks Zero, interest on the $100 in the account something greater than Zero.
Teach your children better. That’s it for this one.
Keep a close eye on your EveryDay Money.
Let me jump right in from the beginning. People, me included, do some of the dumbest things with money. If we can minimize the number of stupid things that we do with our money, then we may find that we can simply do more things with our money.
Hmm.. Perhaps I should stop, jump halfway back out and mention a few things first. I am NOT a professional money person, any and all information, pictures, ideas, stories, mistakes of the dollar, clever thoughts or usage of same are not meant to solicit, force, demand, you to buy, subscribe, read, think or ponder your EveryDay Money. Make no money or life decisions without first being ready to take responsibility of said decisions. If you do any of these things, let’s see, it is because you are a free thinking responsible human being. In short reading, thinking, doing is your own responsibility and can not be delegated or transferred to another every time you screw up.
Back in we go. The other day I am standing in line in the lobby of Bank of America waiting to cash a small check. I was in Bank of America because they have my small account, so I bring them my small checks to cash. They are happy, I am happy. So, I am standing there in line, two people behind me was this young man about 18-19 years old. He too had check in hand. Come to think about it the guy behind me also had a check. Perhaps a trend for that day? As it would happen we all get to the counter within second of each other. I have one on each side of me. My BOA lady takes my check and is using the drive-up computer on the other side so I have a minute. The kid beside me is cashing an AMC theater payroll check. (Sound travels in a quiet bank.) I am thinking good for him, has a job and everything. (I always try to applaud those that can work and do, beats those that can and won’t.) The lady asked him if he has an account. No. (What! A job and no savings account... say it ain’t so. Hasn’t your mother ever told you… perhaps not?) The nice lady informs him that since he doesn’t have an account it will COST him $5 to cash his check. He replies, “No problem.” He says no problem to someone taking $5 of his money for a 2 minute conversation. Interesting. Stay with me here: Pay check every two weeks (I am guessing, I know nothing about AMC theaters besides they are big and evening shows cost enough that they should come with an autograph of every actor in the movie. Free.)
Cost of cashing check: $5. Cost of two cashing per month: $10. Cost of cashing 12 months in a year: $120. $120 of his money in the bank’s pockets at year’s end: price…. Oh! Can’t say that, lawsuits and all. Anyway, I submit $120 a year to cash checks is stupid. I know of at least two banks and there may be more around here that $100 will open a basic savings account, no fees. Cost of cashing checks Zero, interest on the $100 in the account something greater than Zero.
Teach your children better. That’s it for this one.
Keep a close eye on your EveryDay Money.
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