Improving my financial IQ

I just finished reading a fabulous book: Stop Getting Ripped Off: Why Consumers Get Screwed, and How You can Always Get a Fair Deal by MSNBC “Red Tape Chronicles” columnist Bob Sullivan. In it, Sullivan gives the lowdown on the ways consumers are financially illiterate and advice for how we can stop getting screwed by various entities: TV companies, mortgage brokers, car salesman/auto loans, cell phone companies, student loans, various types of insurance, and investment brokers. Here are some key ideas that were somewhat new to me (or that confirmed my prior knowledge or experience):

1. Credit card companies use your average daily balance to figure your interest for the month, so if you plan to carry a balance, you should postpone large purchases until the end of the month and try to make payments ASAP, rather than waiting until the bill comes due. The fewer days of the high balance you have averaged each month, the lower your interest payment will be.
   
2. When buying a car, never negotiate on the price of monthly payments. Negotiate on the purchase price, the “out the door” price (not the MSRP sticker price). Get your own financing before showing up at the dealership; then you can find out if the dealership can beat it. Watch Rob Gruhl’s short video on how to avoid getting screwed at http://www.youtube.com/watch?v=sH651baH7-c.
   
3. One reason for the housing meltdown: too many homeowners without a 20% down payment or equity in their home to offset inevitable market downturns (we are those homeowners). When they stopped paying mortgages (we’re not those homeowners), banks/lenders were left with properties worth less than the unpaid loan on them. Of course, homes shouldn’t be seen as investment properties, so if you’re going to be there long-term, the downturn shouldn’t phase you (unless, I guess, your whole neighborhood turns into HUD homes and crack houses).
   
4. You should spend as much or more time shopping for a home loan as you do for the home itself. The loan is more important than the home. Sullivan’s chapter on home-buying is phenomenal.
   
5. Your cell phone company is probably screwing you. Visit About.com’s Pre-Paid Cell Phone Plan Chooser at http://cellphones.about.com/od/prepaid_phones/qt/plan_chooser.htm to consider your options for pre-paid plans.
   
6. Your cable or satellite TV company is probably screwing you too. Visit http://www.cancelcable.com to learn more about cheap/free online options for watching most TV programs (with fewer ads). In fact, the whole idea behind paying for cable TV was to avoid the advertisements. In addition, call your TV company at least once every six months with competitive offers from other companies and threaten to leave (you have to be willing to actually do so). Usually your company will offer you a reduced rate. Trent’s been using this strategy with increasing regularity with DirecTV, and it’s working.
   
7. Awesome website on financial aid: http://www.finaid.org/. It’s run by a former college financial aid officer whose rule of thumb advice is this: “Don’t borrow more for all your college expenses than you can honestly expect to earn in your first year of employment” (175).
   
8. The last section of his book is advice on pitfall-proofing your finances, and some of his advice differs from Dave Ramsey’s, who advocates just a $1000 emergency fund while paying down debt. Sullivan emphasizes a more sizable safety net. It’s good to get these different perspectives, and this was an informative section, particularly since I pay little attention to my retirement and other investments. I know feel empowered to take some control over our financial future.

If you want to learn more about Bob Sullivan and his stellar advice, visit this book’s website at http://stopgettingrippedoff.net/. A few weeks ago, it had a promo for free copies of his book (I think it’s gone now—sorry), but I received a free (signed!) copy of his book Gotcha Capitalism this week. Woohoo! One more thing—this book is actually a pretty engaging read. And much more informative than Dave Ramsey's material, which mostly focuses on convincing the reader to reduce his/her debt (Well, duh, I'm reading the book. I think I'm convinced.)

Here is picture of Jacob's latest haircut. I think it makes him appear taller. He's my little man. He took one look at me today & said "I like you teeth". My little sweetie.

Holy Cow, Braces!

Well, I got my braces on today. They feel really wierd but I'm looking forward to the end result. Here is the picture that Katie suggest I post. 3 years from now I will be a supermodel. It took about 1 1/2 hours to put on. Now the challenge to to learn on the foods I can & cannot eat. Should be interesting.

Handyman

Hello, Fiddler Kin. I hope everyone has had a lovely week. Happy birthday, to Andy on the 20th. He is 30 years old now. Perhaps he will post and tell us about his trip to Chicago this past week. We'd love to hear about it, Andy.

And, I believe, this coming week Beth will be getting braces. Woohoo!! Are you excited, Beth? Nervous? I can't wait to see them. Take a picture and post it, and then every few months post a new photo. We'll watch the evolution of your beautiful grin. :-)

Trent's been doing some lovely work around the house, as you can see from this photo. He put Kilz on the walls of the guest bedroom before painting it. Very special.

He's also been sanding and staining old furniture.

So, now we have two new/old dressers, a toy chest, and a headboard (which Trent built himself for less than $17 in our bedroom). Here are a couple photos.

It's been fun coming home from work this week to see what new project Trent's undertaken around the house.

By the way, Honor, I read your "This and That" post via e-mail, but I can't find it on the blog to comment on it. I'm glad you shared your experience making crumpets. They do sound like a lot of work, but I'm impressed that you took on the task anyway and then shared it with all of us. I will keep your friends in my prayers, too.

Birthday, etc....

I had a wonderful birthday week. Thursday my coworkers brought me some goodis & I got a starbucks gift card, always a great gift. Thursday evening I went to see Sherlock Holmes witha friend. Jacob & I shared some pizza friday night. Saturday some great friends came to see me & I made them chicken scampi. I cooked lunch because I didnt do anything for their birthdays or christmas. Then we took the kids bowling & came back for ice cream cake, yum. It's been a pretty busy couple of days. Jacob enjoyed have kids to play with. Peter is making me buffalo wings to finish off the weekend.

In a couple of weeks, the 27th, I will be getting braces. Pretty excited about it,but also really nervous. Mosty because of the expense but we started a flex account to help with that part of it. Also nervous about the money because Peter's car has decided to quit running this evening. We just paid it off & the warranty just expired so of course something had to happen, right? It will all work out though. We always find a way to persavere.

We are starting to look into preschool for Jacob. Havent' really looked to hard, mostly just looked at the christian school. The appeal this school has for me is the proximity to my work. I can see the playground from the store. It's very convenient for me, as I'm usually running late anyway. We will check other places though because the christian school is pretty expensive, especially compared to what we pay now.

I'm thinking about making cinnamon popcorn soon. We'll see how that turns out. If it's good, I share it with you, Carol. I know like the cinnamon popcorn at the mall. I did see some at the Sweet Granada at christmas time. You should check that out.

Internet debut of Isaiah Preston...

That is all.

Rainy Saturday

Hello, Fiddler Kin! I hope everyone is enjoying the weekend. Trent and I read online that there was a 30-car pile-up on I-35 due to fog this morning. I hope you are all staying safe and warm in the Midwest.

We've finally departed from frigid temperatures down here--yay! A week and a half ago my flight back to Kansas for Melissa Glaser's wedding was delayed (cancelled and then pushed back) for two days because of KC weather and then ice in Atlanta. Thanks to my mom, however, I made it to Manhattan just in time to run into the church, hug the bride, and grab the best man's arm at the wedding rehearsal. The ceremony the next day was beautiful, and the bride and groom looked very, very happy. I was happy, too, because I got to hang out with my parents, Andy, and Aunt Sharon on Sunday. We had a ham dinner and played Phase 10 Twist.

In other news, I've applied for a position at Wichita State University. They received my application yesterday, and now the ball is in their court. I feel good about what I have to offer, but I'm also very happy at Kennesaw State. According to my two colleagues whom I've told about this (who are also on my list of references), I'm in the best position to make a lateral move to another university: I'm happy where I am (and doing well), so I don't have to settle for anything less than what I want. Of course, what I want is to be less than a three-hour drive from almost all my family members. Trent said he'll be happy either way, so we're just going to leave this up to God.

Since Trent has time away from the Braves, he's been doing several home improvement projects ... repainting the office and guest bedroom, sanding and refinishing furniture from our childhood. Home Depot replaced the carpeting in both rooms too. Basically, we're doing some things so that, should I get offered (and accept) a job at WSU, we'll be able to put the house on the market. Of course, if we decide to stay here, then WE can enjoy the improvements we're making. Either way, it's a win-win.

I hope all is well for my Fiddler Kin. Love you!

what a sweet and tender face

Jacob was playing with play-doh, he has such long lashes. I think this picture would look great on a magazine cover. I' d like to crop this a little to get rid of some of the clutter and enlarge it somewhat, it really looks good. If any one would like a copy let me know. He still has some of the baby face, especially around his mouth. I noticed that wal-mart can take a picture and turn it into a mug, a poster, a blanket, a mouse pad, etc.

Saturday, January 9th

Saturday,January 9th, 2010 was an enjoyable day for me, in spite of the cold. I was able to start and drive my car for the first time in several days. I kept close to home when the temperatures became so bitterly cold. I stayed home from school last Thursday. I did go on Friday but I rode the bus.

On Saturday morning I cleaned my car windows, thoroughly warmed up my car, and drove to the library to attend a vegan meeting. Members of the Western Kansas Vegan Society learned how to make macaroni and cheese without using cheese. We sampled the pasta dish and it was delicious. How does one replace the cheese? Ground cashew nuts and nutritional yeast mixed with other ingredients can produce a cheesy flavor.

After the meeting, I drove to Semolino's and ordered a scone and a pot of black jasmine tea. The tea was served in a glass pot so that I could see the jasmine inside it. I saluted Mom with my steaming cup of tea and wished her Happy Birthday!

I went shopping at Walmart, and later went shopping with a friend. Doug and I watched Julia and Julia with Meryl Streep and Amy Adams. The movie tells the story of Chef Julia Child and a woman admirer who spends a year making every recipe in Julia Child's book. I think Mom would have enjoyed that movie because she enjoyed cooking and eating a well planned meal.

I also surfed the web this weekend and found some delicious sounding recipes. I tried a cream of potato and broccoli soup recipe earlier this week and it hit the spot.

Today I am in the process of making whole wheat bread. Making and eating homemade bread is very satisfying. I hope the bread turns out well. It has almost raised enough to be punched down and placed in bread pans. Then the dough will raise again. I should get 2 loafs of bread from this recipe. It is a recipe that Doug's grandmother used when she was alive. She baked this bread often, and made open faced cheese sandwiches with it to serve to guests at "coffeee time."

I thought a lot about Mother this past week. I recall a few of her sayings:

Don't cut off your nose to spite your face.

You'll catch more flies with honey than with vinegar.

Bloom where you are planted.

Take time to smell the roses.

All of these sayings contain good advice which any mom can share with her children.

I hope my Fiddler Kin spent a pleasant weekend. Even though I miss Mom, I enjoyed Mom's birthday weekend.

E-mail notification

Hey, ya'll. I set up our blog (I think) to notify us via e-mail whenever someone publishes a post or comments on a post. Let me know if you want me to remove your name/e-mail from that notification; I won't be offended. I haven't been on here for awhile, and I thought the e-mail reminder would help me know when stuff's happening on our family blog. :-)

Happy 2010, Fiddler Kin!

Beginning the Year 2010 With Haiku

HAPPY NEW YEAR FIDDLER KIN! A NEW BEGINNING IS HERE. I WISH EVERYONE THE BEST OF ALL THAT IS GOOD IN THIS NEW DECADE. CHEERS!

We had snow flurries in Hays on New Year's Day. Snow flakes twirled and danced in the sky. It was refreshing to watch, even though I do not like snow. I looked for well written winter and new year haiku. They are few and far between. I decided to turn to the master haiku writers, Basho, Buson and Issa.

Winter Haiku

Awake at night
the sound of the water jar
cracking in the cold.

By Basho

Cover my head
or my feet?
The winter quilt.

By Buson

A sign of blessing
Snow on the quilt
From the pure land.

By Issa

I am going to think of the dancing snow flakes as a sign of blessing from God. I do this to honor God. I also do this to honor Issa. Issa revered life in all of it's forms.

NEW YEAR HAIKU

Another year gone-
hat in my hand,
sandals on my feet.

By Basho

Basho reminds us that we have to be ready to greet a new year and all that it brings. There will be both joy and sorrow in 2010. We can celebrate the good times together Fiddler Kin, and comfort one another during the sad times. We are lucky because we have each other. Although we live in a world filled with injustice, there are many people who care deeply and work tirelessly to alieve suffering. The last poems are by Ryokan:

Thinking about the people in this floating world
far into the night---
My sleeve is wet with tears.

Ryokan also reminds us that nature's beauty can remind us of our own inner light. That light is a divine spark to help us find our way.

The rain has stopped, the clouds have drifted away,
and the weather is clear again.
If your heart is pure, then all things in the world are pure.
Abandon this fleeting world, abandon yourself,
Then the moon and the flowers will guide you along the Way.