My family is working-class but my mom was a hobby investor for years and is very exacting about money - she still hand-balances her checkbook to the penny every month.
I remember when I was in high school she taught the young married couple next door how to do basic budgeting, balance their checkbook, how the interest on their mortgage worked...stuff they hadn't learned at home (even though they .
We need to be teaching this in our schools - how compound interest works, what "reconciling" means for financial statements, how percent off coupons work when they are on top of other discounts, how management fees affect returns on investment accounts, all that stuff - it's a combination of knowing what things are and being able to do basic math.
If this is your first time buying a home, you should really consider the FHA Loan. With FHA all or part of your down payment can come as a gift from relatives, employers, or organizations, and often the amount of your down payment is less than 20%. Plus, if you decide to sell before you are done paying it off, it is assumable and can be entirely passed off to the purchasing party. You should really consider this if you have less to spend than required for a conventional loan. I highly highly recommend looking into this option for your particular situation. There is a great article on the benefits of FHA loans at www.moneylounge.net/2009/08/28/top-10-reasons-to-get-an-fha-loan/.
The candy bar/comic part is funny, because when my dad was little his mother gave him enough money for either a candy bar or a comic book. He wanted both, naturally. So, he went into the store, bought the candy bar and sat there reading the comic book, which he put back on the shelf before leaving. (smart kid)
This is besides the point though.
I completely agree with the idea that parents influence their children's spending habits. My parents always gave me an allowance growing up, as well as the opportunity to earn more if I wanted to do more work. The phrase "Save your money." was often used in our household, and it taught me to be financially responsible. It is so important to teach kids to wait for gratification. Save your money, then you will be rewarded.
posts disappearing into the blogasphere never to be seen with the eye of a clean soul happens to the best of the bloggers. it is called information overload. no one person can keep up with everything that a blogger churns out. i also retweeet past posts when i have bloggers block
this is a nice post but you forget to touch about how society influences people particularly the young and impressionable in their spending habits and how to combat it. like for instance, i may buy a playstation 3 not because i need one but because all my friends have one and i may feel out of place and not forgetting all the advertisements. but all in all i have gained a little insight on a few things
Parents are the most important financial influences of our lives. From chores to allowances, it starts with them. My frugality comes from my parents for sure.
Yet, the biggest danger is when they become The Bank of Mom & Dad and spoil their kids to death. That's what I see all around, and their kids turn out to be underachieves and dependents even after college.
I too came from a middle class family but I was adopted by my aunt and uncle and then emancipated at 16 which allowed only my income to matter, not my parents. I've been a freelancer for years and can now pretty much estimate what it will be each month (except for a really bad month like this one and last).
I decided to go to SPC, a local college that had more affordable tuition after hearing horror stories from people who have been stuck paying back loans until their damn near 40 years old! That certainly isn't for me, especially these days where is takes months and months to find jobs so how will you pay back those loans once you graduate with no job or source of income? Exactly.
We don't need an Ivy league education. We just need to be talented in our field and we'll get where we need to be.
A synth sounds much more fun to practice on. I agree with the above commenter that weighted keys are a must otherwise it would be difficult to transition to a regular piano.
I prefer to rent from Chegg because if the bookstore won't take the textbook back (a new edition is coming out, for example), Chegg has to take it back. Granted, you won't get anything for it, but at least you know how much you're truly spending up front.
They also allow you to return books free of charge (shipping is covered) for a refund so long as the package is postmarked within 30 days of purchase. Perfect for when you find out that the professor really doesn't use the book.
The downside to their new policy? You used to be able to put a book in your cart to lock in the price (prices go up as the start of the semester nears). Now, Chegg will change prices in cart.
@lovely post - Indeed; we could all benefit from some true down time. I also like to think of just being as simply living a more conscious way of life (but then again I have been living in the rural countryside recently, so I am used to a slower pace)!
@Shogun - Corporate inertia indeed; great parallel. I am (of course) all for vacations, and changing up something every month - sounds perfect!
Corporations have the same issue. It's called "corporate inertia" as we studied in business school. That's even more difficult to change.... we're the speed boat, corporations are the cruise ships, hard to turn around.
A random vacation is really one of the best ways to break up a routine, as well as adding one new thing different to do a month.
Mark me down as another person who finds Costco very stressful and not enjoyable!
I even get claustrophobic. I can do much better for just myself and my husband.
If we had kids, I'm sure I would feel differently.
Except for the stress part, haha
I like the link to container gardens. Really useful tips to grow your own garden for those who live in apartments and townhouses. Great photos too! Makes you want to go out there and start planting.
Another thing to think about when renting text books, something I haven't seen come up in any of the articles I've read recently, is that many books are useful references to have throughout the rest of your time in school and even beyond. This probably depends on the major and individual class, but, eleven years after getting out of school, I still use two or three books for reference fairly regularly in my job. And, while I was still in school, my calculus, chemistry and some of my engineering core class text books were very useful references. Had I rented the books it would have been much harder to look up the information I needed.
Now, the books from my English, history and other non-major elective courses are another story.
but what if the changes that need to be made aren't big... what if what's needed is to take the time to enjoy the beauty around us. I see us all going and going and doing and doing like little robots. no one knows how to just be anymore.
In a few months, I'll turn 35 years old. It will also mark 20 years of driving and every vehicle I've owned, to date, has had a manual transmission!
My grandfather taught my mom how to drive in his 1960s lumber delivery truck. When I started kindergarten, mom began driving a school bus and for the first 8-10 years, all local school buses were manual shift. She taught my older sister to drive a stick shift. Then she taught me to drive on my sister's 1985 Nissan 300ZX which had a manual transmission (and a very difficult clutch).
When I chose my first car, a 1985 Honda Civic 4-door, it had a 5-speed manual transmission. It had a 1.5L 4-cylinder engine good for 74hp and up to 40mpg on the highway. For comparison, I test drove the same model with the 3-speed automatic, the only other transmissison option at the time. It was AMAZING how much difference the transmission made in the otherwise identical cars! With the stick shift, it had quick acceleration and passing power was never more than a shift or two away...even with a few friends along and the A/C running! In comparison, when I drove the automatic version, I seriously thought I had left the parking brake set for the first few minutes! I was also shocked that above 55-60mph, it was locked into 3rd gear and there was no passing power to be had!
Times have changed a lot in 20 years, but most compact cars with manual transmissions accelerate 0-60 1-2 seconds faster than their automatic counterparts. A lot of them have very similar EPA fuel economy ratings, which seemingly negates one of the biggest benefits of shifting for yourself...but a skilled driver can still extract better fuel economy from a manual than an automatic!
I currently drive a 2006 Mazda3 s 5-door with a 5-speed manual. I saved $1100 at the time of purchase and routinely get 3-4mpg better fuel economy than the automatic version of my car. I just passed 70k miles and have the original disc brakes all around and the clutch and shifter work as perfectly as they did when it was brand new! Meanwhile, automatic Mazda3 models are requiring $2k+ transmission replacements at 110-125k miles!
this is a nice post on how to ooutsmart those little kids. the cereal box thing is priceless. it was never used on me but it is true that the only thing that i remember about the expensive ones was the packaging and the toys(and i am in my twenties!!). those marketers really know what they are doing dont they. sometimes kids can be a bother and its better to leave them home to get your peace and sanity, particularly if they are little "piglets"
Hi Glen: Just a note to let you know that I referenced you and your blog in Monday Morning Musings on my blog, Foxy G.'s Den of i-KNIT-quity today: http://bit.ly/169Nhv
Drinking green tea with cinnamon really worked to lower my blood sugar. My blood sugar was at 279. I drank 3 cups of green tea with powdered cinnamon (no sugar) and after an hour my blood sugar lowered to 160! I was surprised that the cinnamon made the tea seem to be sweet tasting. It deffinnatelly beats drinking green tea by itself :)
My family is working-class but my mom was a hobby investor for years and is very exacting about money - she still hand-balances her checkbook to the penny every month.
I remember when I was in high school she taught the young married couple next door how to do basic budgeting, balance their checkbook, how the interest on their mortgage worked...stuff they hadn't learned at home (even though they .
We need to be teaching this in our schools - how compound interest works, what "reconciling" means for financial statements, how percent off coupons work when they are on top of other discounts, how management fees affect returns on investment accounts, all that stuff - it's a combination of knowing what things are and being able to do basic math.
If this is your first time buying a home, you should really consider the FHA Loan. With FHA all or part of your down payment can come as a gift from relatives, employers, or organizations, and often the amount of your down payment is less than 20%. Plus, if you decide to sell before you are done paying it off, it is assumable and can be entirely passed off to the purchasing party. You should really consider this if you have less to spend than required for a conventional loan. I highly highly recommend looking into this option for your particular situation. There is a great article on the benefits of FHA loans at www.moneylounge.net/2009/08/28/top-10-reasons-to-get-an-fha-loan/.
The candy bar/comic part is funny, because when my dad was little his mother gave him enough money for either a candy bar or a comic book. He wanted both, naturally. So, he went into the store, bought the candy bar and sat there reading the comic book, which he put back on the shelf before leaving. (smart kid)
This is besides the point though.
I completely agree with the idea that parents influence their children's spending habits. My parents always gave me an allowance growing up, as well as the opportunity to earn more if I wanted to do more work. The phrase "Save your money." was often used in our household, and it taught me to be financially responsible. It is so important to teach kids to wait for gratification. Save your money, then you will be rewarded.
posts disappearing into the blogasphere never to be seen with the eye of a clean soul happens to the best of the bloggers. it is called information overload. no one person can keep up with everything that a blogger churns out. i also retweeet past posts when i have bloggers block
this is a nice post but you forget to touch about how society influences people particularly the young and impressionable in their spending habits and how to combat it. like for instance, i may buy a playstation 3 not because i need one but because all my friends have one and i may feel out of place and not forgetting all the advertisements. but all in all i have gained a little insight on a few things
Parents are the most important financial influences of our lives. From chores to allowances, it starts with them. My frugality comes from my parents for sure.
Yet, the biggest danger is when they become The Bank of Mom & Dad and spoil their kids to death. That's what I see all around, and their kids turn out to be underachieves and dependents even after college.
It's a balance.
I too came from a middle class family but I was adopted by my aunt and uncle and then emancipated at 16 which allowed only my income to matter, not my parents. I've been a freelancer for years and can now pretty much estimate what it will be each month (except for a really bad month like this one and last).
I decided to go to SPC, a local college that had more affordable tuition after hearing horror stories from people who have been stuck paying back loans until their damn near 40 years old! That certainly isn't for me, especially these days where is takes months and months to find jobs so how will you pay back those loans once you graduate with no job or source of income? Exactly.
We don't need an Ivy league education. We just need to be talented in our field and we'll get where we need to be.
Thanks for sharing such great post, according to me this post will surely help to under control our bank fees.
You got me craving for watermelons!
A synth sounds much more fun to practice on. I agree with the above commenter that weighted keys are a must otherwise it would be difficult to transition to a regular piano.
These are great and useful tips. I love the wishes idea too.
I prefer to rent from Chegg because if the bookstore won't take the textbook back (a new edition is coming out, for example), Chegg has to take it back. Granted, you won't get anything for it, but at least you know how much you're truly spending up front.
They also allow you to return books free of charge (shipping is covered) for a refund so long as the package is postmarked within 30 days of purchase. Perfect for when you find out that the professor really doesn't use the book.
The downside to their new policy? You used to be able to put a book in your cart to lock in the price (prices go up as the start of the semester nears). Now, Chegg will change prices in cart.
@lovely post - Indeed; we could all benefit from some true down time. I also like to think of just being as simply living a more conscious way of life (but then again I have been living in the rural countryside recently, so I am used to a slower pace)!
@Shogun - Corporate inertia indeed; great parallel. I am (of course) all for vacations, and changing up something every month - sounds perfect!
WEB 2.0 GETS ME SOMETIMES IN MY OLD AGE......
TELL ME THE CODE PLEASE : )
WITH CONFIDENCE,
BRENT HALE
Corporations have the same issue. It's called "corporate inertia" as we studied in business school. That's even more difficult to change.... we're the speed boat, corporations are the cruise ships, hard to turn around.
A random vacation is really one of the best ways to break up a routine, as well as adding one new thing different to do a month.
Mark me down as another person who finds Costco very stressful and not enjoyable!
I even get claustrophobic. I can do much better for just myself and my husband.
If we had kids, I'm sure I would feel differently.
Except for the stress part, haha
I like the link to container gardens. Really useful tips to grow your own garden for those who live in apartments and townhouses. Great photos too! Makes you want to go out there and start planting.
Another thing to think about when renting text books, something I haven't seen come up in any of the articles I've read recently, is that many books are useful references to have throughout the rest of your time in school and even beyond. This probably depends on the major and individual class, but, eleven years after getting out of school, I still use two or three books for reference fairly regularly in my job. And, while I was still in school, my calculus, chemistry and some of my engineering core class text books were very useful references. Had I rented the books it would have been much harder to look up the information I needed.
Now, the books from my English, history and other non-major elective courses are another story.
but what if the changes that need to be made aren't big... what if what's needed is to take the time to enjoy the beauty around us. I see us all going and going and doing and doing like little robots. no one knows how to just be anymore.
In a few months, I'll turn 35 years old. It will also mark 20 years of driving and every vehicle I've owned, to date, has had a manual transmission!
My grandfather taught my mom how to drive in his 1960s lumber delivery truck. When I started kindergarten, mom began driving a school bus and for the first 8-10 years, all local school buses were manual shift. She taught my older sister to drive a stick shift. Then she taught me to drive on my sister's 1985 Nissan 300ZX which had a manual transmission (and a very difficult clutch).
When I chose my first car, a 1985 Honda Civic 4-door, it had a 5-speed manual transmission. It had a 1.5L 4-cylinder engine good for 74hp and up to 40mpg on the highway. For comparison, I test drove the same model with the 3-speed automatic, the only other transmissison option at the time. It was AMAZING how much difference the transmission made in the otherwise identical cars! With the stick shift, it had quick acceleration and passing power was never more than a shift or two away...even with a few friends along and the A/C running! In comparison, when I drove the automatic version, I seriously thought I had left the parking brake set for the first few minutes! I was also shocked that above 55-60mph, it was locked into 3rd gear and there was no passing power to be had!
Times have changed a lot in 20 years, but most compact cars with manual transmissions accelerate 0-60 1-2 seconds faster than their automatic counterparts. A lot of them have very similar EPA fuel economy ratings, which seemingly negates one of the biggest benefits of shifting for yourself...but a skilled driver can still extract better fuel economy from a manual than an automatic!
I currently drive a 2006 Mazda3 s 5-door with a 5-speed manual. I saved $1100 at the time of purchase and routinely get 3-4mpg better fuel economy than the automatic version of my car. I just passed 70k miles and have the original disc brakes all around and the clutch and shifter work as perfectly as they did when it was brand new! Meanwhile, automatic Mazda3 models are requiring $2k+ transmission replacements at 110-125k miles!
this is a nice post on how to ooutsmart those little kids. the cereal box thing is priceless. it was never used on me but it is true that the only thing that i remember about the expensive ones was the packaging and the toys(and i am in my twenties!!). those marketers really know what they are doing dont they. sometimes kids can be a bother and its better to leave them home to get your peace and sanity, particularly if they are little "piglets"
Hi Glen: Just a note to let you know that I referenced you and your blog in Monday Morning Musings on my blog, Foxy G.'s Den of i-KNIT-quity today: http://bit.ly/169Nhv
Drinking green tea with cinnamon really worked to lower my blood sugar. My blood sugar was at 279. I drank 3 cups of green tea with powdered cinnamon (no sugar) and after an hour my blood sugar lowered to 160! I was surprised that the cinnamon made the tea seem to be sweet tasting. It deffinnatelly beats drinking green tea by itself :)
That's great! Never knew that I'd be able to find deals on Twitter, thanks!