Estate sale purchase

Over the weekend we purchased this nice stuffed red leather sofa at an estate sale. Our first experience with bidding and we won!  A great deal... $480 for a $3000 sofa.    I can see how you could do your entire home this way and you can save a lot of $$. 

  Love it.  😊😊😊

Outline from Titus 2 Moms Talk on YOUR Family Budget 4.6.11

Here are the slides from my PowerPoint presentation at our Titus 2 Moms group last night.  Email or call me if you have any questions as this is such a broad outline and most of the information was from me speaking...

THE 3 BASICS

Tithe  (10% of GROSS, start with 5%, or $___ amt. and gradually work up to 10%); Give $$, services, products...

Save (10% of GROSS, start with 5%, or $___ amt. and gradually work up to 10%) 

Steward / Spend (80% of NET to be conservative)

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BILL PAYING AT OUR HOUSE

One day a week, Wednesday or Thursday, at our house, gather everything you need in one place; allow one hour to carefully work on this

Tithe to the Lord

Save i.e. pay yourself

Pay bills; Tonya’s “painless” accrual method of paying larger bills; index card system

When bills are due, pay online rather than mailing 

Use as many bank accounts are needed to keep things separate. We have 11 accts. at 2 banks (4 in our family, two of us have home businesses), checking and savings for specific people/uses, with NO BANK  FEES

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MINT.COM

       FREE online service
Passwords for all accounts needed 
Easy to do taxes
Graphs to show trends
Easy to monitor transactions and see where you are spending too much

       No input of data needed; it's done automaticallyOR buy Quicken / Intuit program and keep everything totally separate and off the internet

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STEWARDSHIP

TITHE and GIVE-- trust God to provide for your needs; it is not presuming on Him if you are managing your $$ wisely; give to Him and others generously

SAVE-- a % or $ amt. each week!  Christmas $$, special purchases, emergency fund, extra cash; envelopes

STEWARD-- you can have fun and not be extravagant; “where is the $$ to pay for this?” 

Avoid  temptation--Wal-Mart, Target, internet, “sales”

Use Coupons, shop on sale, buy in bulk

Another source of income?

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ACTION STEPS

Are you giving to the Lord’s work?

What needs to change in the way your family spends the $$ that God has provided to you?

Work on ONE new good $$ habit at a time and ask the Lord to help you.  Do you have a spending addiction?

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Parable of the Talents (it's not as little as you think)

Talent 

= 3,000 shekels

= 60 minas

= 34.3 kilograms 

= 75 U.S. pounds

Used as a measure of weight and money.  If in today’s money an ounce of gold = $1,200, (actually, it's closer to $1,400 an ounce) one talent is worth about $1,440,000 (each of us has at least that much money pass through our hands over our lifetime, even with low-moderate income)

http://www.biblestudy.org/beginner/bible-weights-and-measures.html

Sources:  Easton's Bible Dictionary, Wikipedia

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What we all want to hear from the Lord one day...

Matt. 25:21 

... ‘Well done, good and faithful servant. 

You were faithful with a few things, 

I will put you in charge of many things; 

enter into the joy of your master.’

Manage your $$ well over your lifetime. It's a journey with ups and downs but the Lord is there with you all the way.

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HELPFUL RESOURCES

Me (private help)

Crown Financial Ministries 

Mint.com

Dave Ramsey

Ellie Kay   (She's kind of like the Beth Moore of finances)

FREEBIE: Einstein Bagels

BOGO (Buy One, Get One Free)

• Einstein Bagels: BOGO Stuffed Saladwich with Chicken, Expires 10.20.09

COUPON: http://email.metsource.com/Einstein/4406_EBB_10_06/

FINANCES: Home Warranty

On Sunday we noticed that the inside part of our air conditioner unit was vibrating really loud. Still cooling well, but vibrating so much that I could feel it on the other side of the house. My family thinks I'm really strange but I really can feel certain vibrations like cars pulling in front of our house or into the driveway or garage. They hum Twilight Zone music when I come out of the shower and tell them someone has arrived. :)

Back to the A/C. I contacted American Home Shield, our home warranty company via their online form. They called on Monday morning and someone came today, Tuesday morning at 8 a.m. The blower wheel inside the air handler unit of our A/C needs to be replaced--total cost to us--$60, the service call fee.

We have had this home warranty ever since we purchased our home in 1998. Our realtor, a personal friend, recommended it to us since the house was older, built in 1971. It's not a cheap policy--$450 per year--but it includes all the expensive parts of our home such as the air conditioning system, water heater, ductwork, pool pump, electrical system, plumbing, ceiling fans, refrigerator. We have 12 covered items/systems. Since we have had it for so long we are grandfathered in for some of these covered items that may not be available now. We have not regretted paying this each year because about once every year we have a large repair that needs to be done that is covered. We had a plumbing leak that cost $1,000 to repair that we paid $35 (S/C used to be just $35); $600 water heater replaced; $2,500 outside A/C unit replaced; $150 shower faucets and spray replaced; $600 pool pump replaced last year [I had JUST upgraded our policy to include the pool pump system], our oven ($500+ retail) was replaced ...to name a few.

For this most recent repair...

• Cost of the new part:   $150
• Cleaning cost of A/C:   $200
• Labor cost:  $150
• TOTAL:  $500 (we paid $60 service charge call)

I highly recommend home warranties to anyone buying an older home especially, but new homes can have issues after the first year as well. Unless you or someone in your household knows how to do major repairs well, this is well worth the money spent.

If you're looking for a good maintenance service, we think ours is the best.  We hire them regularly for things that are not covered by our warranty for our home and our rental house.

FINANCES: Walgreens

Proverbs 31:18

She senses that her gain is good; her lamp does not go out at night.

Most of this blog comes from everyday life. I don't really sit down and plan weeks ahead what will be on here but rather write from typical day-to-day events we experience.

Do you have a Walgreens near you? If so, don't throw away the insert that comes in Sunday's newspaper with their sales and coupons. Some of their food items and toiletries are priced much lower than you can find them at the grocery store, especially if you use the store coupon, register rewards and/or manufacturer's coupons. I belong to The Grocery Game which shows you exactly how low (from a historical standpoint) the prices are, but if you shop for the same things often, you should be able to recognize a good bargain when you see it.

This is another store that is very convenient to our home. I have gotten in the habit of always making a list and sticking to the list items only. It's usually between 3-10 items that we normally use. I picked up a few things there yesterday:

• 4 cans of Mandarin Oranges, reg. $1.29; Walgreens coupon 2/$1.00; saved $3.16
• 1 Sally Hansen Nail Polish, reg. $4.99; sale $2.99; manuf. coupon $1.00; saved $3.00
• 1 large Skippy Peanut Butter, reg. $3.79; sale $1.79; manuf.coupon 60 cents; saved $2.60
• 2 large Quaker Oats, reg. $3.19 each; Walgreens coupon 2/1; saved $3.19

TOTAL VALUE $20.32; PAID $8.37; SAVED $11.95

FINANCES: ALDI Food Stores

Proverbs 31:27

She looks well to the ways of her household...

There is a new grocery store in our area called ALDI. I had never heard of it before but it advertises fairly inexpensive grocery shopping so I checked it out last weekend while everyone was away. It's not a particularly large store but very clean and it definitely has all the basics a household would need--produce, meats, dairy, packaged goods, bread, paper products... Most items that are not fresh are Aldi's store brand with very few national brands on display. The national brand prices were about average from what I saw. The produce looked very fresh. I bought a sampling of types of foods, fresh and packaged, that we normally eat and so far, we have been quite satisfied. It is very convenient to our home and I actually drive right past it several times a week, so I may be stopping in again for produce or last-minute items I need. They don't do much advertising to keep their prices down, so unless you go in, you won't know what they have.

A few quirks to advise you of:

• Shopping carts cost 25 cents to use. After you've unloaded your groceries, you return the cart and insert a "key" to retrieve your quarter.
• No shopping bags. Bring your own or you can purchase canvas bags at the store.
• Cash or debit cards only. They do not accept checks or credit cards.

If you're on a tight food budget, this would be a good place to cut some corners. If you are partial to particular brands, at least give their brand a try to see if there is any difference in taste. I tried this with their Triscuit look-alike crackers and they taste the same to me.

FINANCES: Early Principal Reductions on Loans

1 Corinthians 10:13

No temptation has overtaken you but such as is common to man; and God is faithful, who will not allow you to be tempted beyond what you are able, but with the temptation will provide the way of escape also, so that you will be able to endure it.

Here is my best tip for any type of financial debt whether it be credit card debt, car loans, home mortgage or whatever. Always pay more than the minimum payment. Study your budget and do your best to set aside a specific amount each week to make an additional principal reduction at the end of the month. The minimum payment of any loan is usually made up primarily of interest with a smaller amount paying down the actual balance of your debt. The goal is to pay this balance down as quickly as possible.

To illustrate:

Say you have a credit card balance of $5,000 @ 18% annual interest rate. The minimum payment required is $100/month. It will take you almost 8 years to pay off this debt and you would have paid over $4,300 in interest, making the $5,000 purchase into a $9,300 payback amount. On the other hand, if you add an additional $50 per month ($12.50 per week) to your loan payment, thereby making a $150 monthly payment on this same debt, it would take less than 4 years to pay it off, with under $2,000 in interest charges, a savings of more than $2,300 in interest. These amounts were calculated using Crown Ministries' Credit Card Minimum Payment Interest Calculator.

Or consider your home mortgage loan. For a mortgage of $125,000 @ 6% interest over 30 years, interest payments would be almost $145,000 making the total debt repaid almost $270,000. If, on the other hand, you make an additional $100 payment each month, the interest would be about $102,000 with the total debt $227,000, a savings of $43,000 and about 8 years less of payments! These amounts were calculated using Crown Ministries' Mortgage Prepayment Calculator.

As I've said before, the Miracle of Compound Interest truly is amazing and works both ways--to your benefit if you pay a little more; to the lender's benefit if you pay the minimum or less.

FAITH: God Provides

2Corinthians 9:8

And God is able to make all grace abound to you, so that always having all sufficiency in everything, you may have an abundance for every good deed...

If you're looking for a new study for yourself or a small group, Crown Ministries released their new God Provides DVD series today. Throughout history, people have wrestled with the concept of trusting God to meet their needs versus relying on the world. Through stirring accounts found in the Bible, God reveals how He wants to be our ultimate Provider. This film learning experience offers a rich, dramatic journey through six theater-quality, epic short films and printed companion guide that can be used for individual or group study.

Although I have not seen this myself, this particular ministry generally has excellent resources which are free or at great prices. Check it out.

FINANCES: Freecycle

Proverbs 22:9

He who is generous will be blessed, for he gives some of his food to the poor.

There are both positive things and negative things about the internet. One positive is the benefit of finding great bargains. A friend of mine told me about Freecycle, one of Yahoo Groups for free-cycling trash to treasures, one item at a time. It is listed in ReUseIt Network/RIN's directory, an online forum for people to help each other and the environment. You are allowed to post items WANTED and OFFERED. Items must be free--no trading, buying or selling. Some people are quite generous with what they offer. By checking it regularly you can really find some good items you need at no cost. I've also seen postings called CURB ALERTS where people have put items in front of their homes, usually trash pick-up day, that are in good condition. It is a good way to donate/give items that are in good condition to someone specific who really needs them.

To view the site you have to join Yahoo which is free, then choose which city you want to belong to, which is also free. Be sure to adjust how you want to receive your messages. Due to the number of daily postings, I chose to not have them sent to my email address, but rather to just view the site myself when I'm interested. It's literally at your fingertips, so check it out. You can search for items by city or the name of the item.

FINANCES: Buying Books for Homeschool or College

Proverbs 6:6

Go to the ant, O sluggard, observe her ways and be wise, which, having no chief, officer or ruler, prepares her food in the summer and gathers her provision in the harvest.

Have you priced school books lately? No wonder the public schools don't make their budgets. We have needed lots of books for various subjects in homeschooling over the years. Our local library has a large bookstore with a huge assortment of books and magazines for sale. Many are new but most have been read and donated; some were former library books. I have purchased many of our books there for just a couple of dollars as opposed to $50+ per book. I like buying paperback literature there to be highlighted or written in.

High school and college textbooks are outrageously expensive. If we can't find a book we need to purchase at the library bookstore, we try Bright Light Books, Amazon or eBay. There is another searching site for price comparisons of books called AddALL which is very helpful. Another friend told me about a book rental site that she has used called Chegg. I didn't know you could rent books.

After we finish with a book I resell (or re-donate) it if it is in good condition. I do this every year with school textbooks we use. Our Geometry teacher this year chose a Chalk Dust Geometry book that cost $200+. Ugh! I had an earlier edition of it in my shelves which I sold on eBay for $150 and a Spanish text for $75. My older son also does this to help pay for his college texts. He sometimes sells books for his friends and they split the sales price. I often purchase used textbooks with the intention of selling them to pay for new books that I know we will be needing. By doing this I at least break even in these school expenditures. Homeschooling is wonderful for the family but it is certainly not without costs (literally and figuratively).

FINANCES: Roth IRA

Proverbs 6: 6-8 Go to the ant, O sluggard, observe her ways and be wise, which, having no chief, officer or ruler, prepares her food in the summer and gathers her provision in the harvest.

I have mentioned the Miracle of Compound Interest previously, but not specifically when it comes to retiring. I encourage all college-age students and 20-30 somethings to begin planning for their future today by setting up a Roth IRA which provides major tax advantages over a traditional IRA. At this point TIME is on your side. A projections calculator will illustrate how much your earnings will be when you reach retirement age. You can adjust it according to interest rates, monthly contributions, current and future age, etc. Growing your money in this type of account truly is amazing and pretty painless to do while you are young and have relatively low expenses. I discussed this with my college-aged son and he set one up when he was 18 years old. The bank representative that opened it for him said he had never seen someone so young do this and what a wise thing it was to do. By all means, look into this for yourself and your family. Even a contribution as low as $25-50 per month will earn you great gains when you are older.

FINANCES: Home Businesses for Moms

Proverbs 31:16-18

She considers a field and buys it; from her earnings she plants a vineyard. She girds herself with strength and makes her arms strong. She senses that her gain is good; her lamp does not go out at night.

I have a part-time home business, in fact I have two. I teach piano lessons to adults and children and I sell items on eBay and Amazon.com. Both are very lucrative and can add variable amounts of income to our family budget depending on how much time I spend on each. The tax write-offs alone are worth looking into having even a part-time home business. Our accountant had me calculate how many square feet in our home is used for each business and that percentage of the house and many of its expenses can be recorded as tax deductions. We generally use my part-time earnings for family events, meals out, movies, homeschool expenses, gifts (weddings, graduation, missions)... one year I even paid for a family vacation to Washington State and British Columbia. The key is to find something that you really enjoy that works for you and your family. Both of my businesses are scheduled around my younger son's class schedule and our active lives. When my older son played Varsity basketball in high school, I scaled way back on piano lessons to accommodate attending all his games. I can list an eBay item in about 5 minutes including the photo(s) now that I have a system worked out that makes it a smooth process. I encourage every mom at home to do something like this when the season is right and teach your children to do the same. They won't always be at home with you and it's good to keep alert and marketable in these economic times.

FINANCES: Yard Sales

Proverbs 16:9

The mind of man plans his way,

But the LORD directs his steps

I love a good bargain. I love the thrill of the hunt for things for our family, for gifts (new with tags only) and for eBay resale items. I usually prefer to shop alone at these to sort items my head of what I'm looking for--family items, gifts and/or eBay resale items. It's a great way to stretch your budget dollars and helps me be a good steward of our finances. Here is one of my favorite stories of God's provision for us through a neighborhood yard sale:

I had been praying for a Vita-Mix to make healthy smoothies, add more fiber and veggies to our diet, etc. They retail between $500-$600. I was at a neighborhood yard sale and saw some Juice Plus vitamins for sale. I thought that was the next best thing to a Vita-Mix so I bought a case for $2 (they are quite expensive normally). That same day I was chatting with another neighbor about this and she offered me her Vita-Mix Super 5000 for $150. That's still a lot of money for a kitchen appliance, but I bought it anyway. It had only been used once or twice and even included a cookbook and a dry container for grinding flour, coffee beans, etc. I couldn't believe that she didn't want it anymore. I didn't need both the vitamins and the Vita-Mix so I listed the Juice Plus in my eBay store and sold the case for $100. My practically new Vita-Mix only cost $50. God provided amazingly for a very specific prayer which was so encouraging to us. What are you praying specifically for AND watching to see how He will provide?