|
Edited on Sat Oct-04-08 04:37 PM by SoCalDem
I dug through my journal & found these three "oldies" that some DUers still PM me for links to..
Maybe some new people can add to or benefit from thinking about things we can all do, to get through what's coming down the pike at us..
Some called me a "doom-sayer" or a "Nervous Nellie" at the time, but I've just been "there" before, and unfortunately, we all might be going "there" once more :(
Prepare your family for the hard times ahead.
Posted by SoCalDem in General Discussion
Sat Mar 10th 2007, 08:06 AM
No one is immune from the hard landing ahead.
Even with a democratic congress, we will still have almost 2 years left of this mal-adminstration to screw things up even more than they have. obviously not 2 years NOW..but
As a boomer, I have lived through many recessions, and they are no fun..
The mini-recession (was it really even a real recession) in the post-Clinton /early Bush years was NOTHING compared to what may be looming on the horizon.
Many people are in way over their heads and a few missed paychecks can send them right onto the streets.
We all think that our family budget is carved in stone and there's no room for "adjustments", but in most cases that's not entirely true.
Easy stuff first:
1. Learn to cook:
......a) Even with higher grocery prices, it's still cheaper (and better for you ) to cook , than to order in, nuke a frozen dinner, or use prepared mixes
......b) grow some fresh veggies if you have some yard space
......c) stock up on bargains at the store when you see them
......d) shop with a list, and stick to it
......e) buy store brands whenever possible
......f) use coupons if they are for things you already buy
......g) Cook several meals at the same time and package your own "frozen dinners" for the rest of the week
2. GET RID OF YOUR CREDIT CARDS
.......a) If you cannot pay them off, please consider filing bankruptcy (if you qualify, and can do it). The deck is stacked against consumers, and it's only going to get worse, folks. The sooner you get "out from under", the sooner you can start rebuilding your financial stability .
........b) Keep ONE credit card with the lowest interest rate possible, and use it once a month (to keep it active)..and pay it in full BEFORE the due date..(If you need to rent a car or reserve a hotel room, you will need a credit card to avoid paying a large cash deposit.
.........c) If your bank offers it, use the online bill-paying service. This eliminates the cost of writing/mailing checks, and it provides a detailed record of what (and where) you are spending your money. It saves on postage too and gas..and time.
........d) Ask your bank for a checking account that comes with over-draft protection (ours has $1k) so if you ever screw up, you will not be charged a bunch of bank fees...or keep a savings account where you have your checking, so you could transfer (online) between accounts.
.......e) Buy a shredder and USE IT. Shred all papers that have any identifying information on them.
.......f) Pay your bills EARLY and pay extra if you can.
3. Examine your "extras".
.......a) Do you really "need" that cell phone package? Are your calls on it, the yak-yak killing-time calls or is it truly for "emergencies" like people tell themselves? Could you get by with a prepaid cheapo-phone that "lives in the car", and a cheaper "frill-free" land line for the yak-yak calls? (People managed this way for over 100 years)
.......b) Cut the cable bill by going to the bare-bones package and have friends tape the HBO stuff for you.
.......c) Take your lunch to work. Even $4-5 a day ends up being close to a Benjamin a month.
.......d) Send kids to school with a lunch too, It's better for them than what they get in the cafeteria. let them make their own, and they might accept it more.
........e) Shop the sales at upscale department stores, and you can often find better clothing/accessories than at Walmart/KMart/Target..and there is no stigma for shopping at resale shops/flea markets/yard sales.
.......f) PAY OFF YOUR VEHICLES (if you can) and figure out exactly what those extra cars are costing you. You have to consider insurance, gasoline, repairs, tires, finance charges.. the whole enchilada
.......g) Take a hard look at the secondary income job (usually the wife's). What are you actually getting to KEEP from that job, after the daycare costs, lunches at work, extra car expenses, extra costs associated with the job, and any income tax implications. Now figure out if it's actually worth the trouble. remember that you only get to spend what's left over, and often that part-time job ends up costing the family money in the long run.
......h) Start saying "We cannot afford that" to your kids. SHOW them the family budget and make them a part of the financial team.
......i) Cancel magazine subscriptions.. (Most probably don't even get read..or when family asks what you want for your birthday/xmas/etc , let THEM subscribe to your favorite magazine as your gift
.....j) When you eat out, go early and use coupons for meals if you get them
4. Maintain your appliances, cars & equipment. An annual "check-up" is cheaper than a complete breakdown.
5. Network and barter casually
.....a) Everyone has a special skill, so trade services within your group. (be careful how you do this, because the IRS is "interested" in bartering .)..
......b) When you buy something pricey, show them cash and ask for a cash discount
......c) Shop in your community, with privately owned businesses, if you can. Often they deliver free and are eager to please you
......d) Ask your friends for referrals for things you need done (if you cannot do them yourself).
......e) If you have young kids, set up an "exchange" with other families..for clothes & toys.
......f) Set up or join a babysitting co-op (It's easy, fun and it's FREE babysitting (as in no money paid..just your time)
6. Consider "shared-housing" . If you are an empty-nester with a big house, you could "rent a room" to a single who cannot afford the high cost of an apartment..or you could incorporate a parent/grandparent into your home (cue fingernails on a chalkboard here)..but if it's the difference between losing your home or keeping it, you may need to consider this
7. Energy use can be cut down
....a) Obviously the new lightbulbs help, but there are other things you can do.
.....b) Do laundry & dishes at off-peak times
.....c) Close off registers in unused rooms
.....d) Set the turn-off timers on tvs incase you fall asleep
....e) Replace washers in faucets so they don't drip
.....f) Plan your shopping /errands in a circular trip.
.....g) Make sure your car has a locking gas cap
I've droned on long enough, but let me tell you, that when a REAL recession hits, and hits hard, many families will be hit hard. Most young folks have never experienced wage-freezes or 15% mortgage loans .. But when WE endured those things, there were no killer health care premiums or $25K cars or all the extra expenses we have today.
Start now and if it doesn't come to pass, you might only end up with a savings account & some good habits.. Wait too long, and you might be homeless and broke.
Read entry | Discuss (298 comments) | Remove from Journal | Add/Edit intro
...............................................................
Taking back control over your food.
Posted by SoCalDem in General Discussion
Sun May 06th 2007, 02:17 PM
I know it sounds impossible, but every little bit you do CAN help.
Many people under 40 have been raised on "fast-food" or "packaged-mixes" or "frankenfoods".
The franken-foods are harder to eliminate since the very essence of them has been manipulated at the start, but there's a LOT you can do about the others.
NUMBER ONE:.. Ignore all the glitzy ads on tv and in magazines/papers
NUMBER TWO:... Stop buying the prepared stuff
NUMBER THREE:... Invest in some old cookbooks (used book stores/flea markets/estate sales..or even online)
NUMBER FOUR:...Buy a decent food processor
NUMBER FIVE:... PURGE your cupboards and freezer of all the "combination foods".
NUMBER SIX:...Learn how to cook..(It's not rocket science, and once you get the hang of it, it actually takes less time than you would think.
NUMBER SEVEN:.. Make your OWN "frozen dinners" for times when you don't want to cook.
NUMBER EIGHT:... Plant a garden and let your kids help..Anti-veggie kids will probably eat "their" own veggies..(Mine did)
NUMBER NINE:... Buy good spices
NUMBER TEN :... Make your OWN cake mixes, pancake mixes, baking mixes (HP Make-A-Mix Cookbooks are wonderful)
Modern people think they have no time to "cook from scratch", but it's not that hard and it takes less time than one thinks.
It's not a cheap as buying $1 Banquet frozen dinners or 2/$5 Dominos Pizza, but it's a lot better for you, and so-called convenience foods are LOADED with salt and artificial flavors.
Look for canned foods that have the FEWEST "ingredients".. Choose the no salt added, if you can.. Choose UNSWEETENED when you buy canned fruits.
Buy local and buy local in-season when possible.
Unsweetened iced tea made from water & teabags is better for you than soft drinks & adulterated juices. (My own kids did not have their first taste of soda pop or koolaid until they were school age, and they still prefer unsweetened iced tea as adults.
There are many things you can make on your own that are so cheap, you cannot imagine. You probably just never tried, and don;t even know it.
Here are a few family "specials" that we have always loved..and are super fast too
Left over rice, a little chopped ham, sliced green onions, julienned carrots, a little soy sacue and some other veggies and you have instant stir fry
Peel an apple, core it, split it almost to the bottom (in fourths)..sprinkle a little cinnamon on it and zap it in the microwave (covered)..serve with a dollop of vanilla ice cream or whipped cream
Light frosting for a cake.. whipped cream with mooshed frozen strawberries blended in.. (sweetened with real sugar)
Make your own cookies.. (just about any ole recipe will yield more cookies and there's no comparison on taste)
MOST of the prepared foods actually started with a "real" recipe that has just been adulterated to accomodate the middlemen... not the comsumer.
Salad dressings take about 10 seconds to make..
If you have a breadmaker, and then buy the "mixes", you are still getting the "add-ins" from the corporate food companies.
Get a nice breadboard, and assemble the dough yourself from the basics.
If the box-mixes end up staying on grocers' shelves instead of in grocery carts, they WILL change . As long as people keep buying the stuff, it will elbow out more healthy stuff..
To us oldies, these tips are second-nature, and I am not trying to be "preachy", but I know there are busy people out there who just never took the time, or had parents who taught them to cook.
Commercials have been selling us "fast & easy" for so long that many people actually believe them.
That's a myth that needs busting..in a big way..
Read entry | Discuss (223 comments) | Remove from Journal | Add/Edit intro
...................................................................
"Oldsters" advice to the young ones.
Posted by SoCalDem in General Discussion
Wed Jan 16th 2008, 03:16 PM
Every young person I have ever known (myself included), has a tendency to think that "everything will work out", and that they have "all the time in the world" .
It won't
You don't
This is the advice we gave our own..(add your own pearls of wisdom)
1. Get good grades and apply for EVERY scholarship you can.. even the small ones add up.
It sucks to be studying when all your buds are out there having fun, but in 10 years you will probably have to struggle to even remember some of their names, but the grades you get NOW, can help you have a chance at a better future, and all the good things that go along with it.
2. If your family can afford it, do NOT get a shitty little job while you are in school. School IS a job.. the MOST important job you can have, as a young person.
You will NEVER get a chance to go back to high school as a teenager, and those years are too important to waste as you rush from school to job. Employers are notoriously harsh with youngsters too, and often make more demands on their time than they should. The "stuff" you would buy with the "extra" money is not worth the effort it might take you , and you'll only find MORE stuff to buy. Once you are on the merry-go-round, it's hard to get off.
3. Find something you LOVE to do..even if it sounds silly. Careers and wealth often come from the things you love to do. There are careers in all kind of things. Kids get hung up on the "glamour" jobs...professional sports, fashion..dance..acting..music..
Everything you come into contact in your daily life was invented by SOMEONE.. Give yourself the time to open your mind to all possibilities.. Cultivate your interests, and learn all you can about them.
4. NEVER borrow money, if you can avoid it. You may need to borrow money for school or for a car, but DO NOT GET CREDIT CARDS.
(one caveat:..It's not a bad idea to get ONE card, that you can use for car rentals or a true emergency, but do not "shop" with it.. use it only enough to keep it in force..and pay it in full EVERY MONTH)
Once you have that slender little genie in your wallet, you WILL use it. Everyone I ever knew with credit problems, planned to "only use them in case of an emergency". Once you get a "balance" going, a sense of futility sets in and you end up spending even more, since you probably can never catch up anyway.
5. Do not get "car crazy". Advertisers know all the buttons to push, to make you want that shiny new hunk of aluminum & plastic, but a decent used car, will always be a better deal. If you want to impress someone, borrow or rent a car for the special occasion. (see #4)
6. If you plan to buy a home, start saving early. Open a "House savings account", and even if you only put $20 a week into it, you will have started saving for your down payment. If you start this at 20, by the time you are 30, you would have $11,932.68 (3% interest compounded quarterly).
7. Rent the crappiest/cheapest place you can stand..and have roommates to defray the cost. RESIST THE TEMPTATION TO SHARE WITH A GIRLFRIEND/BOYFRIEND. It's hard to negotiate monetary details of living, with a loved one.
8. Learn to cook, and try not to eat a lot of junk-food. This is especially important if you have crappy or no health insurance. Even when prices at the grocery store are high, it;s still better for you and cheaper to cook your own food.
9. Do not marry someone with loads of debt. When you marry them, those payments become YOUR payments too, since they come out of the combined family budget. Couples fight about money more than anything else, so why ask for trouble. You cannot "borrow" your way out of debt, so consolidating debts rarely helps.
10. Get life insurance when you are YOUNG. Have it automatically deducted from your bank account. People pooh-pooh whole life policies, but if you can lock in a low rate, someday when you are old and sick, you will thank your lucky stars that you did it. When you are in your 50's and find that your health problems make it too expensive to buy, you will be wishing you had bought that insurance when you were young and healthy. Having a paid-up life insurance policy is something you can even borrow from in a dire emergency, and at least you will have your "final expenses "covered" ... If you are single, put your parents down as beneficiaries, and when you marry & have kids, you can easily change the beneficiaries with a phone call.
11. When you are building your career, be flexible, and ready to move to better jobs, in different places. Stay as unburdened by "stuff & entanglements" as possible. If you get a chance for a promotion, that involves a move, you don't want to have to sell a house, or convince a "homebody" girlfriend. Opportunities do not often repeat themselves. the things you DON'T take advantage of, will eat away at you forever. You have to be ready to DO the "what if"s.
12. Babies NEVER make a bad situation better, and sometimes they even make a good situation worse. It's never a good reason to have a baby just because everyone else is having kids. Have a kid when you cannot stand the idea of NOT having one. When you are in a stable relationship, and your finances are in good shape, and you are ready to give that baby 150% of your love & effort.. that's when you need a baby.
13. Buy LESS house than you want....for a little money as you can .. ALWAYS get a 30yr FIXED rate (with PITI) and pay extra every month.
Consider your commute to work when you do buy a house. If you spend 14 hrs a day AWAY from home, and you spend every extra dime on gas to get to and from work, you might be better off with a crappier house, closer to where you work... or a job that may pay less, closer to where you want to live. If you only have yard work on your days off, and house repairs in every spare moment, you will not get much enjoyment from your house.
Consider your house, as a place to live..not as an investment. Houses do not always sell for more than you paid...and just because you worked hard to get it fixed up, you may not recoup your expenses.
14. Do NOT remove the equity in your house. It may sound tempting, but when you are young, you cannot grasp the fact that someday you will be in your 50's, and having a house that's paid off, is worth a lot more then, than that new car now...or that vacation...or that boat..
15. If you find yourself with "extra money", buy small pieces of land in an undeveloped area near you. They "aren't making any more land", and every place we have ever lived, has grown , and having an asset you can sell , is never a bad idea.
16. Take a vacation every year..even if it's a short local trip. Save for it in advance, and don't overspend.
17. Take lots of pictures. You can never go back and take a picture of your 4 yr old, once he/she's 15.
Read entry | Discuss (36 comments) | Remove from Journal | Add/Edit intro
|
Printer-friendly format
Email this thread to a friend
Bookmark this thread
(1000+ posts)
Send PM |
Profile |
Ignore
