...all I have to do is set my 3 children on someone and they can have them distracted to insanity in minutes.
No, seriously, I can see how distraction can be effective on trying to get change for a higher denomination bill than what you gave over...I happen to be a chatty person and I have a cashier try to give me change for a higher bill at least twice a year. Other times, the cashier will shove something in the plastic bag that didn't get rung up. It's not like I am trying to distract them, it just happens. In total, it happens several times a year. The other direction also happens: the cashier tries to charge me twice for something, or over rings or doesn't apply a coupon or discount.
Sometimes it's been so much in my favor that I wonder how much stores lose not to shoplifting, but to a brain-dead idiot running the register.
If the mistake is small and I don't catch it until I am walking to the car, I blow it off. If I catch it while it's happening, I say something. One time I had to nearly argue with the woman, and finally I gave up and let her give me $16.00 off of an item when the coupon for it was $15.00 off. She had it stuck in her mind that the coupon was for a free item...and my item was $15.99. It was good for up to $15.00 off...so she rang up the item as $15.00 so she could take the $15.00 off and give the item to me for free! This was AFTER I had corrected her about the coupon being only $15.00 off when she rang the coupon as $15.99 off....
So in these cases, I give up. But it happens way too often for me. I wonder if it's because I am a direct and chatty person. People look at me and their first impression is that I am an honest person, just by the way I look.
Con artists must really use first impressions to their advantage. Nice looking people are not always what they seem...
The author makes a lot of assumptions the governemtn will in fact create individual home owner assistance available directly to homeowners. The probelm with these assumptions is the financial recovery or bailout plan is in a constant state of flux. The governents efforts will be to first shore up any systemic risks to our banking system before addressing the unerlying issues which caused the financial crisis, primarly residential real estate loans.
Like so many commenators I agree the savings you would receive during the self impossed payment moritorium would not be worth the damage to ones credit. Borrowing has been relatively easy during the last decade but that has and will continue to change. People will be able to continue to borrow money soon but the underwriting on lending is going to change, and these changes will be impossed by lenders themselves but we also should anticipate congress placing more stringent regulations on lenders. This should result in lower loan to vaulue loans and more emphasis placed on the borrowers credit history.
I've owned my home for 15 years. I've never once been late on my mortgage. However I am one of those close to needing assistance. The potential assistance is not because I want to discount my mortgage but becuase I'm on the verge of not being able to pay my mortgage(s). I have a first mortgage and a Heloc. The first has been in place for 8 years (i refinanced to lower interest during the last recession) and a Heloc which is three years old. The Heloc was taken out not to start a business but to support a business (and my household) which started to develop problems when the capital markets shut down in early 2007.
Now as the capital markets have gone through a melt down, and in the process pulled the economy down into recession, my business has failed. With no business, no income, and no savings, its hard to make the large mortgage payment(s). This month is the end of the line for savings, and retirement account withdrawls (there is nothing left) so yeah, I might need some help while I turn things around financially.
Sadly, where we live, there is often no organic fruit to be had. It's a 30 minute drive to the small selection at the store in the next town, and another 30 to Omaha (where organic is king.) During the summer months, I don't worry much, as most of our food is grown locally. But I was aware of this list, and it really got me to thinking. Canned and frozen are a good way to go if you are unsure of your fresh goods.
I just tested the textbook offer and it would appear that it's no longer available. So you don't have to worry about all that. However, if you still want to try a 1-month trial, it's easy. Just click one of the links in my original post.
And about my order, I didn't refuse the diaper package directly to the driver because I was not there when he left it on my porch. My UPS guy never rings the bell or anything, he just drops stuff off. So I had to call and schedule a pickup.
It was pretty easy, and I got my refund, but I would hesitate to do that again with an independent merchant, because I realized as I was going through the process that the merchant was going to be out the shipping cost. Or at least I think they would be, and I felt bad about that. I wouldn't mind doing it with an Amazon product, tho, since their own customer service suggested it to me.
Individuals not making their payments is naughty and mischevious. Governments and banks knowingly flooding economies with pretend money with no real world wealth is just evil and that is what has happened. It seems they've sold your future to China.
The article went up as soon as I knew about it.. on the 17th. But I have worked out a deal with the owner of Refund Cents for an exclusive promo offer for our readers only. I have edited the article, but the logon info will be:
I understand everyone's anger or frustration about the new bailout or rescue plan. I just posted my blog with the issues of this plan from the point of view as a banker and my concerns over government ownership in my bank. http://wwwfreewebsite4unowcom.blogspot.com/. I am a consumer too but the thought of letting my personal credit report be damaged so I could possibly get a lower interest rate or lower the principal amount of my loan is not advisable.
Banks look at personal credit reports if they are making a loan to the individual or to a business owned by an individual. As a small business credit approval officer I do not recommend defaulting on your current mortgage to try and get a better deal on it.
"the guy paying $59.00 for his one beer likely charges the poor guy $1,000 per hour for his services (lawyer? doctor?)
the question is, in hours of work, I suspect the rich guy gets his beer a whole lot cheaper than the poor guy"
Yea, because the rich guy was born a lawyer or a doctor right.
Most likely the rich guy worked his ass off in high school so that he could get into a good college and then worked even harder in college so he could get into law or medical school and then put in 80 hours a week at his firm or residency program to establish himself in his profession. Not to mention the tremendous amount of debt he incurred for 7-8 years worth of school.
As a law student with a fiance in dental school I can assure you that neither of us will feel even the slightest pang of guilt about the amount of money we will be charging the "poor" man.
I remember back in high school when that "poor" guy was out behind the gym smoking pot while I was in class working hard to get into college. While he was having babies at 18, I was studying at a good university. While he drifted from one mindless low skill job to another, I was getting into professional school. And later, when he's still waiting tables at P.F. Changs, I'll tell him to hurry with the check, since I need to get back to the office so I can fleece more "poor" people... yea right.
If you are smart and a little-bit lucky you can take advantage of a situation in which you feel that you are going to get fired and get into a different job without having a bad job history on your record.
First, if you really have a gut feeling that you are going to get fired contact your HR department (or have a co-worker that you can trust contact them) and ask what is their policy of how they give out information to third parties, (other companies calling to check references, mortgage lenders checking to verify income, banks, etc). Most companies (to avoid lawsuits) only give out the dates that you worked with them and if you are eligible to be rehired. Being eligible for rehire is key because if you get fired, the company will mark on your file that you are not eligible for rehire which is a trick HR departments use to tell another company that you may have applied for that you were fired without flat out saying it.
My point is that NEVER wait around to get fired when you have a strong feeling that its going to happen, just resign from your position by giving them a two week notice which is standard. I was able to use this strategy to get out of a bad situation in which I made a major screw up on the job and saw the writing on the wall when my ex-boss started to take some responsibilities away from me and I lost out on a promotion that was in line to get before the screw up. It took me a while to find a job in my field and I almost had to move back in with the parents, but now I have a great job with an excellent supportive boss at a great company.
The last time I was truly able to lose weight was when we were in a situation requiring extreme frugality for about 6 months after my husband began his first job after graduate school. Ironically, he was earning the most he'd ever earned. But the unreimbursed part of the expense of moving cross country and setting up a new household, plus a major unexpected car repair the first week, and my being out of work longer than expected; emptied our savings took us to our credit card limits. (Not their limit on us, our limit for ourselves. Still, by the time I finally was earning properly, we had the equivalent of several months income owing.)
Our food budget was severely curtailed. Bulk oatmeal for breakfast, PBJ and apples for school lunches, and bulk beans and rice/tortillas for dinner. I found an ethnic grocery which offered real bargains on produce, and sometimes on meat. Dairy products were rationed by measured serving. Instead of filling our 12 oz glasses with milk, for instance, we actually measured out an 8 oz serving. Cheese was weighed, not just grated/cut enough to 'look right'. The sugar spoon was an actual half-teaspoon measuring spoon, and standards for sugaring cereal or tea were set.
Though we had variety of produce, and many different sorts of beans, overall, our menu was boringly limited compared to our usual habits. But, it had to be done.
There were days when I'd skip part or all of my lunch to have enough bread or apples to last through the week for school lunches. Or I'd very consciously serve measured portions at dinner, so that there would be another meal's worth of small portions leftover. Again, properly measured portions vs. a heaping pile. Not limiting the food, just not indulging. At the very least, I measured my portions this way most of the time. That's the part that made the weight loss difference I suppose. Well, that and having no in-between meal nibbles at all. At first I might have toast with PB, or fruit or leftovers or extra cereal for snacks, but then I became aware of getting as many school lunches out of the bag of bread as I could. Or as many breakfasts from the cereal as possible.
My girls were teens at this point, so I didn't feel that limiting portion sizes to the amounts described on 'the food pyramid' was asking too much of them. There was 'enough' food, and there was variety, even if it wasn't our preferred options. Apples were nobodies favorite fruit, and the cheapest variety even less so. But, they were the best buy and stored better than the soft fruits we prefer. Our budget was arranged to include more than enough dairy for their needs in that bone-building phase. But there was no longer chocolate milk powder.
I even began actually measuring the cat's food, instead of just filling her bowl. Her food wasn't refilled until she ate it all, rather than being replaced or topped up automatically. She has a habit of hoarding a last couple of bites that she will only get around to eating when nothing else appears. It adds up to about a bowlful each week I realized; which was almost a weeks worth of the measured amount she should have for her weight. Not wasting a quarter of the bag meant I could still by her a high quality brand. Stronger vigilance about scooping the litter box also, so that the litter lasted longer.
The essence of the book's approach is that you want to go for the highest, stable per-person spending that you can manage. (That is, stable in the long run--you don't want spending now that leaves you poorer in the future.)
It really doesn't look much at whether these decisions affect the need for spending in ways that mean that more dollars per person don't leave you ahead.
Having said that, I think the book is well worth reading--the sort of adjustment in per-person costs that the book doesn't make is pretty easy to make yourself. Grasping the essential notions of the book gives you a framework for thinking clearly about the financial issues that face you and your family.
Great post with some good ideas.
I guess it is infuriating when on one hand there is a cavalier attitude fueled by greed and on the other hand whimpish attitude when things don't work out!!
Once some one is caught in the position of too much debt and assets that are falling in value, it can be a very scary place. When I stand back and look at it from a country perspective, there is a massive slowdown required to get things back to somewhere normal because at a macro level the whole country has been living beyond its means and now has to tighten its belt so that the country's income can slowly become more than it's expenses. Once that happens, debt can be paid back.
At a household level this happens at completely different rates and the politicians have to try and appeal to every one to get re elected. Not a simple problem and it's going to fascinating to see how they go about doing this.
If you are the main cook, and your hubby will be doing the shopping, how is that going to mesh? it sounds like his groceries won't work for your cooking.
What are your measurements for success? not just money spent, I hope. Health concerns,(do a before/after weight, and OTC cholesteral test. and food and packaging waste might also be factors to consider.
I did the right things as well. I saved a lot of my income, and put it into what I thought were safe investments. I have lost far more than most homeowners, even though I've avoided buying a house for so long as I thought prices were too high in my area - and I did not get any shelter in exchange for my loss.
No one will bail me out.
When people stop honoring their promises is where the greatest danger lies for our society. Your home is a place to stay. Your mortgages payments were presumably affordable when you took on the mortage, so the fact the house is worth less now is immaterial. It's the same house, the payments are the same - so nobody "screwed you over".
If you or people like you default on your promises, then this will break the trust between you and the banks, break the trust between banks and their customers, and the businesses that do business with them. This is what is happening now.
We have far more to lose than just money here. If the US cannot start new innovative businesses because banks will no longer lend money to anyone, or if we go through a depression because no one can trust another, things would be far worse.
I don't know. That sounds like it makes sense for people who are making 10 grand each, but if you are making more than that, does the percentage of benefit decrease as your salary goes up? Of course it also ignores other possible benefits . . . like being able to squeeze money out of Grandma and Grandpa to help with bills . . .
One biggie; It also totally ignores the cost of daycare . . . HELLO! . . . or more likely in this couple's case, the cost of having one parent stay home and watch the kid. How about if they dont have insurance? Doctor/dentist bills for a kid are out of control! Also, a couple with a child might find that they need a car to handle having a child, versus relying on public transportation, another significant expense.
Not having read the book this idea seems rather suspect.
it`s a pretty darn good time to buy a home. Granted, it may be a BETTER time LATER to buy a home than it is now, but the housing crash and credit crunch is presenting savvy renters(those who have done the right thing, lived within their means, kept their credit clean and saved up some money) with unprecedented opportunities to finally become homeowners instead of perpetual renters.
I`ve been renting for 30 years, and this horendous RE market(horrendous if you`re trying to SELL, and not-so-good if you`re trying to get a mortage so you can buy) finally tanked so low, that I was finally able to buy a home 4 months ago, without needing to apply for a mortgage - all I needed to do to acquire this property
was tap into an unsecureed line of credit for about $6k,
so, with any luck I`ll have that loan paid off in full
in about 3-4 more months, and will thus own this home free and clear with no debt.
If the market hadn`t been this bad, and if credit was
still flowing and available like it was a year or 2 ago,
the price of this home would have been far higher, and consequently out of my reach.
This is the proverbial silver lining in the clouds of gloom and doom in the housing and credit market - for those of you who are renters and aspire to own, your ship has come in. Some of y`all just need to recognize
that the ship may look different than you expected, may be smaller than you expected, and may even be docked in
a place you didn`t expect for it to land.
If you`re expecting a REO McMansion for $.20 cents on the dollar(with 100% financing available) to conveniently pop up in just the school district
you always hoped your kids could attend, and ring your doorbell to let you know it`s available, well, you`ll probably have to wait quite a bit longer, but if you`re willing to be flexible as to your expectations, and flexible as to your location, decent forclosures in decent areas can be had for as little as $10k, so instead of going out and buying that new Mini, or Hyundai
Triburon...(you know, ...the one you just HAD to have), go buy yourself a home instead.
You can`t live in a Hyundai, and a car depreciates, so why buy a new car when a home can be had for about the same price? Besides, I think the thrill of driving a new car off the lot, pales in comparison to being *finallY* be able to say things like "my driveway", "my garage", and "my backyard"(in the purest sense of the term) for the first time in one`s life, even if it`s just a small, old fixer-upper of a home.
Right now may not be the *best* time to buy, but it`s certainly a very good time to buy, IMHO.
All you can eat buffets may represent a good value for families when kids can eat for free. They may also work well with the carry out buffet idea, allowing the diner to spread the food over several meals. But really, for the average single diner, this concept typifies the American problem with overconsumption of cheap, nutritionally poor calories. Lindsey has given good tips on how to fill up on the healthier offerings first. But most people won't do this. And even if you eat fruit or vegetables first, the urge to overeat on other stuff - because you can - is enormous. Sometimes what makes sense financially doesn't add up when it comes to our health.
I'm in Australia and didn't understand what the "subprime" problem was until I watched this . It seems to me that the genuinely poor and working class really were decieved and taken advantage of just as DebbieM above described. It is those people who deserve the help and I should hope that assistance would be approved based on need rather than any other criteria. Greedy middle class speculators would have to miss out because they don't meet the criteria for hardship.
The wider economic problems are much larger than just the housing market and the bailout is only going to buy time anyway. It's not nearly enough to "fix" anything. It's barely even a bandaid. This is a defining moment in history not just for one generation but probably for the next one too.
Refundcents is definitely FANTASTIC! I joined several years ago just as you did during a preview and the savings haven't stopped yet! I highly recommend it for anyone looking to save money. You will not be disapointed :)
First, of all Anyone of you true Americans that have gotten that helping hand from Mommy or from who ever should not be opening you’re Big Ass Mouths.
(You can bet your sweet ass that I would miss a couple payments if it meant them re-writing my loan.) Let me see if I get this right, one you will let your credit be ruined and number two, I will be glad to help you pack and move if you loan is denied! Wake-Up
Same old dumped downed American to much Fox News (“if it means missing a few payments, some borrowers would deliberately miss mortgage payments to qualify for a cheaper mortgage.) Looks like I need to get together a few more movers and storage units lined-up for another good old American, (Once those incentives include guarantees of better rates, who in their right mind would struggle to pay on time?) Can this person even read a Newspaper? Rates are Up-Up and away better rates get real give you lender a call or maybe “Hope-Now” you know the little guy’s program with the funny walk that said repeatedly how Home-Ownership is at its all time high, come on you know the guy watching the store. Time to Crash-N-Burn American God help us all.
Singed 20%=Down now -$200,000.00 price drop so far and where is your newfound equity?
Increasing the income for the people of USA would worsen the plight of the poor and unemployment, why...because labour cost would increase for the US firms and they would consider relocating to production sites/countries such as China/other parts of Asia. I think the bail out is aimed at minimising the crisis damage.
Your assessment of the happenings seem to start in the middle of the chain...marking to market is a process of fair valuing your assets and liabilities based on the market value, so the outcome of this process is dependent on whats happening in the market, thus your analysis of the root cause should be focused on the market which is the input for m-t-m.
...all I have to do is set my 3 children on someone and they can have them distracted to insanity in minutes.
No, seriously, I can see how distraction can be effective on trying to get change for a higher denomination bill than what you gave over...I happen to be a chatty person and I have a cashier try to give me change for a higher bill at least twice a year. Other times, the cashier will shove something in the plastic bag that didn't get rung up. It's not like I am trying to distract them, it just happens. In total, it happens several times a year. The other direction also happens: the cashier tries to charge me twice for something, or over rings or doesn't apply a coupon or discount.
Sometimes it's been so much in my favor that I wonder how much stores lose not to shoplifting, but to a brain-dead idiot running the register.
If the mistake is small and I don't catch it until I am walking to the car, I blow it off. If I catch it while it's happening, I say something. One time I had to nearly argue with the woman, and finally I gave up and let her give me $16.00 off of an item when the coupon for it was $15.00 off. She had it stuck in her mind that the coupon was for a free item...and my item was $15.99. It was good for up to $15.00 off...so she rang up the item as $15.00 so she could take the $15.00 off and give the item to me for free! This was AFTER I had corrected her about the coupon being only $15.00 off when she rang the coupon as $15.99 off....
So in these cases, I give up. But it happens way too often for me. I wonder if it's because I am a direct and chatty person. People look at me and their first impression is that I am an honest person, just by the way I look.
Con artists must really use first impressions to their advantage. Nice looking people are not always what they seem...
The author makes a lot of assumptions the governemtn will in fact create individual home owner assistance available directly to homeowners. The probelm with these assumptions is the financial recovery or bailout plan is in a constant state of flux. The governents efforts will be to first shore up any systemic risks to our banking system before addressing the unerlying issues which caused the financial crisis, primarly residential real estate loans.
Like so many commenators I agree the savings you would receive during the self impossed payment moritorium would not be worth the damage to ones credit. Borrowing has been relatively easy during the last decade but that has and will continue to change. People will be able to continue to borrow money soon but the underwriting on lending is going to change, and these changes will be impossed by lenders themselves but we also should anticipate congress placing more stringent regulations on lenders. This should result in lower loan to vaulue loans and more emphasis placed on the borrowers credit history.
I've owned my home for 15 years. I've never once been late on my mortgage. However I am one of those close to needing assistance. The potential assistance is not because I want to discount my mortgage but becuase I'm on the verge of not being able to pay my mortgage(s). I have a first mortgage and a Heloc. The first has been in place for 8 years (i refinanced to lower interest during the last recession) and a Heloc which is three years old. The Heloc was taken out not to start a business but to support a business (and my household) which started to develop problems when the capital markets shut down in early 2007.
Now as the capital markets have gone through a melt down, and in the process pulled the economy down into recession, my business has failed. With no business, no income, and no savings, its hard to make the large mortgage payment(s). This month is the end of the line for savings, and retirement account withdrawls (there is nothing left) so yeah, I might need some help while I turn things around financially.
If you want to read my story go here http://moneyfinanceswealth.blogspot.com
Sadly, where we live, there is often no organic fruit to be had. It's a 30 minute drive to the small selection at the store in the next town, and another 30 to Omaha (where organic is king.) During the summer months, I don't worry much, as most of our food is grown locally. But I was aware of this list, and it really got me to thinking. Canned and frozen are a good way to go if you are unsure of your fresh goods.
Thanks for the reminder, Carrie!
Linsey
I just tested the textbook offer and it would appear that it's no longer available. So you don't have to worry about all that. However, if you still want to try a 1-month trial, it's easy. Just click one of the links in my original post.
And about my order, I didn't refuse the diaper package directly to the driver because I was not there when he left it on my porch. My UPS guy never rings the bell or anything, he just drops stuff off. So I had to call and schedule a pickup.
It was pretty easy, and I got my refund, but I would hesitate to do that again with an independent merchant, because I realized as I was going through the process that the merchant was going to be out the shipping cost. Or at least I think they would be, and I felt bad about that. I wouldn't mind doing it with an Amazon product, tho, since their own customer service suggested it to me.
I blog at www.shopliftingwithpermission.com.
Individuals not making their payments is naughty and mischevious. Governments and banks knowingly flooding economies with pretend money with no real world wealth is just evil and that is what has happened. It seems they've sold your future to China.
The article went up as soon as I knew about it.. on the 17th. But I have worked out a deal with the owner of Refund Cents for an exclusive promo offer for our readers only. I have edited the article, but the logon info will be:
username: wisebread
password: wisebread
This will work through Tuesday Oct 21.
The best link to enter will be:
http://www.refundcents.com/login.asp
Thanks to Michelle at Refund Cents for this deal!
Linsey
I understand everyone's anger or frustration about the new bailout or rescue plan. I just posted my blog with the issues of this plan from the point of view as a banker and my concerns over government ownership in my bank. http://wwwfreewebsite4unowcom.blogspot.com/. I am a consumer too but the thought of letting my personal credit report be damaged so I could possibly get a lower interest rate or lower the principal amount of my loan is not advisable.
Banks look at personal credit reports if they are making a loan to the individual or to a business owned by an individual. As a small business credit approval officer I do not recommend defaulting on your current mortgage to try and get a better deal on it.
"the guy paying $59.00 for his one beer likely charges the poor guy $1,000 per hour for his services (lawyer? doctor?)
the question is, in hours of work, I suspect the rich guy gets his beer a whole lot cheaper than the poor guy"
Yea, because the rich guy was born a lawyer or a doctor right.
Most likely the rich guy worked his ass off in high school so that he could get into a good college and then worked even harder in college so he could get into law or medical school and then put in 80 hours a week at his firm or residency program to establish himself in his profession. Not to mention the tremendous amount of debt he incurred for 7-8 years worth of school.
As a law student with a fiance in dental school I can assure you that neither of us will feel even the slightest pang of guilt about the amount of money we will be charging the "poor" man.
I remember back in high school when that "poor" guy was out behind the gym smoking pot while I was in class working hard to get into college. While he was having babies at 18, I was studying at a good university. While he drifted from one mindless low skill job to another, I was getting into professional school. And later, when he's still waiting tables at P.F. Changs, I'll tell him to hurry with the check, since I need to get back to the office so I can fleece more "poor" people... yea right.
Yes. I have the other piece. I just want to win enough to keep over my children's head. Please help.
If you are smart and a little-bit lucky you can take advantage of a situation in which you feel that you are going to get fired and get into a different job without having a bad job history on your record.
First, if you really have a gut feeling that you are going to get fired contact your HR department (or have a co-worker that you can trust contact them) and ask what is their policy of how they give out information to third parties, (other companies calling to check references, mortgage lenders checking to verify income, banks, etc). Most companies (to avoid lawsuits) only give out the dates that you worked with them and if you are eligible to be rehired. Being eligible for rehire is key because if you get fired, the company will mark on your file that you are not eligible for rehire which is a trick HR departments use to tell another company that you may have applied for that you were fired without flat out saying it.
My point is that NEVER wait around to get fired when you have a strong feeling that its going to happen, just resign from your position by giving them a two week notice which is standard. I was able to use this strategy to get out of a bad situation in which I made a major screw up on the job and saw the writing on the wall when my ex-boss started to take some responsibilities away from me and I lost out on a promotion that was in line to get before the screw up. It took me a while to find a job in my field and I almost had to move back in with the parents, but now I have a great job with an excellent supportive boss at a great company.
So...the article goes up on the 18th about a free trial on the 16th and 17th.
Good planning, there.
The last time I was truly able to lose weight was when we were in a situation requiring extreme frugality for about 6 months after my husband began his first job after graduate school. Ironically, he was earning the most he'd ever earned. But the unreimbursed part of the expense of moving cross country and setting up a new household, plus a major unexpected car repair the first week, and my being out of work longer than expected; emptied our savings took us to our credit card limits. (Not their limit on us, our limit for ourselves. Still, by the time I finally was earning properly, we had the equivalent of several months income owing.)
Our food budget was severely curtailed. Bulk oatmeal for breakfast, PBJ and apples for school lunches, and bulk beans and rice/tortillas for dinner. I found an ethnic grocery which offered real bargains on produce, and sometimes on meat. Dairy products were rationed by measured serving. Instead of filling our 12 oz glasses with milk, for instance, we actually measured out an 8 oz serving. Cheese was weighed, not just grated/cut enough to 'look right'. The sugar spoon was an actual half-teaspoon measuring spoon, and standards for sugaring cereal or tea were set.
Though we had variety of produce, and many different sorts of beans, overall, our menu was boringly limited compared to our usual habits. But, it had to be done.
There were days when I'd skip part or all of my lunch to have enough bread or apples to last through the week for school lunches. Or I'd very consciously serve measured portions at dinner, so that there would be another meal's worth of small portions leftover. Again, properly measured portions vs. a heaping pile. Not limiting the food, just not indulging. At the very least, I measured my portions this way most of the time. That's the part that made the weight loss difference I suppose. Well, that and having no in-between meal nibbles at all. At first I might have toast with PB, or fruit or leftovers or extra cereal for snacks, but then I became aware of getting as many school lunches out of the bag of bread as I could. Or as many breakfasts from the cereal as possible.
My girls were teens at this point, so I didn't feel that limiting portion sizes to the amounts described on 'the food pyramid' was asking too much of them. There was 'enough' food, and there was variety, even if it wasn't our preferred options. Apples were nobodies favorite fruit, and the cheapest variety even less so. But, they were the best buy and stored better than the soft fruits we prefer. Our budget was arranged to include more than enough dairy for their needs in that bone-building phase. But there was no longer chocolate milk powder.
I even began actually measuring the cat's food, instead of just filling her bowl. Her food wasn't refilled until she ate it all, rather than being replaced or topped up automatically. She has a habit of hoarding a last couple of bites that she will only get around to eating when nothing else appears. It adds up to about a bowlful each week I realized; which was almost a weeks worth of the measured amount she should have for her weight. Not wasting a quarter of the bag meant I could still by her a high quality brand. Stronger vigilance about scooping the litter box also, so that the litter lasted longer.
The essence of the book's approach is that you want to go for the highest, stable per-person spending that you can manage. (That is, stable in the long run--you don't want spending now that leaves you poorer in the future.)
It really doesn't look much at whether these decisions affect the need for spending in ways that mean that more dollars per person don't leave you ahead.
Having said that, I think the book is well worth reading--the sort of adjustment in per-person costs that the book doesn't make is pretty easy to make yourself. Grasping the essential notions of the book gives you a framework for thinking clearly about the financial issues that face you and your family.
Great post with some good ideas.
I guess it is infuriating when on one hand there is a cavalier attitude fueled by greed and on the other hand whimpish attitude when things don't work out!!
Once some one is caught in the position of too much debt and assets that are falling in value, it can be a very scary place. When I stand back and look at it from a country perspective, there is a massive slowdown required to get things back to somewhere normal because at a macro level the whole country has been living beyond its means and now has to tighten its belt so that the country's income can slowly become more than it's expenses. Once that happens, debt can be paid back.
At a household level this happens at completely different rates and the politicians have to try and appeal to every one to get re elected. Not a simple problem and it's going to fascinating to see how they go about doing this.
Beans and grains/breads are the cheapest things going. What kinds of things are on the BOGO offer?
If you are the main cook, and your hubby will be doing the shopping, how is that going to mesh? it sounds like his groceries won't work for your cooking.
What are your measurements for success? not just money spent, I hope. Health concerns,(do a before/after weight, and OTC cholesteral test. and food and packaging waste might also be factors to consider.
I did the right things as well. I saved a lot of my income, and put it into what I thought were safe investments. I have lost far more than most homeowners, even though I've avoided buying a house for so long as I thought prices were too high in my area - and I did not get any shelter in exchange for my loss.
No one will bail me out.
When people stop honoring their promises is where the greatest danger lies for our society. Your home is a place to stay. Your mortgages payments were presumably affordable when you took on the mortage, so the fact the house is worth less now is immaterial. It's the same house, the payments are the same - so nobody "screwed you over".
If you or people like you default on your promises, then this will break the trust between you and the banks, break the trust between banks and their customers, and the businesses that do business with them. This is what is happening now.
We have far more to lose than just money here. If the US cannot start new innovative businesses because banks will no longer lend money to anyone, or if we go through a depression because no one can trust another, things would be far worse.
In short, please don't do this.
I don't know. That sounds like it makes sense for people who are making 10 grand each, but if you are making more than that, does the percentage of benefit decrease as your salary goes up? Of course it also ignores other possible benefits . . . like being able to squeeze money out of Grandma and Grandpa to help with bills . . .
One biggie; It also totally ignores the cost of daycare . . . HELLO! . . . or more likely in this couple's case, the cost of having one parent stay home and watch the kid. How about if they dont have insurance? Doctor/dentist bills for a kid are out of control! Also, a couple with a child might find that they need a car to handle having a child, versus relying on public transportation, another significant expense.
Not having read the book this idea seems rather suspect.
it`s a pretty darn good time to buy a home. Granted, it may be a BETTER time LATER to buy a home than it is now, but the housing crash and credit crunch is presenting savvy renters(those who have done the right thing, lived within their means, kept their credit clean and saved up some money) with unprecedented opportunities to finally become homeowners instead of perpetual renters.
I`ve been renting for 30 years, and this horendous RE market(horrendous if you`re trying to SELL, and not-so-good if you`re trying to get a mortage so you can buy) finally tanked so low, that I was finally able to buy a home 4 months ago, without needing to apply for a mortgage - all I needed to do to acquire this property
was tap into an unsecureed line of credit for about $6k,
so, with any luck I`ll have that loan paid off in full
in about 3-4 more months, and will thus own this home free and clear with no debt.
If the market hadn`t been this bad, and if credit was
still flowing and available like it was a year or 2 ago,
the price of this home would have been far higher, and consequently out of my reach.
This is the proverbial silver lining in the clouds of gloom and doom in the housing and credit market - for those of you who are renters and aspire to own, your ship has come in. Some of y`all just need to recognize
that the ship may look different than you expected, may be smaller than you expected, and may even be docked in
a place you didn`t expect for it to land.
If you`re expecting a REO McMansion for $.20 cents on the dollar(with 100% financing available) to conveniently pop up in just the school district
you always hoped your kids could attend, and ring your doorbell to let you know it`s available, well, you`ll probably have to wait quite a bit longer, but if you`re willing to be flexible as to your expectations, and flexible as to your location, decent forclosures in decent areas can be had for as little as $10k, so instead of going out and buying that new Mini, or Hyundai
Triburon...(you know, ...the one you just HAD to have), go buy yourself a home instead.
You can`t live in a Hyundai, and a car depreciates, so why buy a new car when a home can be had for about the same price? Besides, I think the thrill of driving a new car off the lot, pales in comparison to being *finallY* be able to say things like "my driveway", "my garage", and "my backyard"(in the purest sense of the term) for the first time in one`s life, even if it`s just a small, old fixer-upper of a home.
Right now may not be the *best* time to buy, but it`s certainly a very good time to buy, IMHO.
Paul
All you can eat buffets may represent a good value for families when kids can eat for free. They may also work well with the carry out buffet idea, allowing the diner to spread the food over several meals. But really, for the average single diner, this concept typifies the American problem with overconsumption of cheap, nutritionally poor calories. Lindsey has given good tips on how to fill up on the healthier offerings first. But most people won't do this. And even if you eat fruit or vegetables first, the urge to overeat on other stuff - because you can - is enormous. Sometimes what makes sense financially doesn't add up when it comes to our health.
I'm in Australia and didn't understand what the "subprime" problem was until I watched this . It seems to me that the genuinely poor and working class really were decieved and taken advantage of just as DebbieM above described. It is those people who deserve the help and I should hope that assistance would be approved based on need rather than any other criteria. Greedy middle class speculators would have to miss out because they don't meet the criteria for hardship.
The wider economic problems are much larger than just the housing market and the bailout is only going to buy time anyway. It's not nearly enough to "fix" anything. It's barely even a bandaid. This is a defining moment in history not just for one generation but probably for the next one too.
Refundcents is definitely FANTASTIC! I joined several years ago just as you did during a preview and the savings haven't stopped yet! I highly recommend it for anyone looking to save money. You will not be disapointed :)
First, of all Anyone of you true Americans that have gotten that helping hand from Mommy or from who ever should not be opening you’re Big Ass Mouths.
(You can bet your sweet ass that I would miss a couple payments if it meant them re-writing my loan.) Let me see if I get this right, one you will let your credit be ruined and number two, I will be glad to help you pack and move if you loan is denied! Wake-Up
Same old dumped downed American to much Fox News (“if it means missing a few payments, some borrowers would deliberately miss mortgage payments to qualify for a cheaper mortgage.) Looks like I need to get together a few more movers and storage units lined-up for another good old American, (Once those incentives include guarantees of better rates, who in their right mind would struggle to pay on time?) Can this person even read a Newspaper? Rates are Up-Up and away better rates get real give you lender a call or maybe “Hope-Now” you know the little guy’s program with the funny walk that said repeatedly how Home-Ownership is at its all time high, come on you know the guy watching the store. Time to Crash-N-Burn American God help us all.
Singed 20%=Down now -$200,000.00 price drop so far and where is your newfound equity?
Increasing the income for the people of USA would worsen the plight of the poor and unemployment, why...because labour cost would increase for the US firms and they would consider relocating to production sites/countries such as China/other parts of Asia. I think the bail out is aimed at minimising the crisis damage.
Your assessment of the happenings seem to start in the middle of the chain...marking to market is a process of fair valuing your assets and liabilities based on the market value, so the outcome of this process is dependent on whats happening in the market, thus your analysis of the root cause should be focused on the market which is the input for m-t-m.