Great point! This is something my wife and I hear all the time. By nature, we are frugal and generally do not consume a lot. Yet we are CONSTANTLY told by friends and family that we do not have any fun since we do not spend any money. That couldn't be further from the truth! My wife and I go on long bike rides, walks, or will read together for hours. Guess what? We have a blast together. More people would be better off if they would just heed the simple advice above, especially point 4.
The government imposes contribution limits on all types of IRA. The Roth IRA Contribution Limit rules can change. It is essential that you review this, at the beginning of each new financial year. This will ensure you understand the maximum dollar amount you are allowed to deposit in your IRAs for that year.
From the list of 5 lessons, number 4 is my favorite. I have two outdoor hobbies that I absolutely love. Right after college, I had a new job and was making more money than ever before. I thought that by being able to spend more money on my hobbies I would enjoy them more. Wrong!
Now, I focus on functionality (number 3) and only purchase those items for my hobbies that are going to last and add to the experience. More money does not always equal more fun.
David, My wife is from Zhanjiang, so I visit that coastal area often. I won't be able to retire completely for about four years (although I am probably older than you are - 64). We plan to retire and spend 6-8 months in China each year (the reminder in my home in Iowa City, IA). Obviously, I hope to spend the winter months in China. My Chinese is very poor but slowly improving - right now we live in S. Korea, but I expect that language will get better once living for extended periods in China. Perhaps we could get together sometime.
Bob Grant
I'm just not sure it's worth it. Just continue to save your money and you should be prepared to pay the bill. The last time I went to the vet my cat was put to sleep because she was so ill.
This is tangiential, but I am intrigued by how many of us grow up without ever being enough in touch with our own authenticity that we arrive at adulthood and don't even know our passion/s, and knowing what that-thing-we-were-born-to-do is. You shouldn't have to look for your passion, it should be something you can't NOT do.
I can't help but wonder if this is the result of our one-size-fits-all education system that doesn't nurture this soul-seeking in early childhood, where your passion and talents stand out more clearly. Your childhood is part of your life, too, and I think it's important to begin discovering yourself early and not waiting until you need to find out what it is so you can pick the "right" major in college.
OT, I know. Just a thought I had when I read this.
Thanks for a great blog post! It is so important that once people get their debt paid off, they don't just start spending their excess funds, but put at least a portion of these funds into different types of investments and also an emergency fund. I suggest that people save their receipts for an entire month, or even two months, to accurately calculate their spending. Then, as you said, they should ideally save at least 6 months of living expenses. You never know what unexpected situation may come up, whether it is a change in employment, relationships, illness, maternity leave, or anything else. In my blog about using funds from your tax refund, I suggest people put their return into their emergency fund if their debts are all paid off. It's also important for people to know that available credit, such as a line of credit or credit card is not an emergency fund.
I'm sure it's not for entertainment, Doc. I have had varicose veins on my feet bilaterally since 2008. I thought my only option was an expensive procedure. About 6 months ago, I started taking baths with about 2 cups of white distilled vinegar for my skin. Today, I noticed that in addition to softer and clearer skin I also had varicose veins that are flatter than before. They also are lighter (almost the color of my skin), and my pain level has decreased from a 10 to a 1. It's a 1 because if someone steps on my feet where the veins are it hurts a little. However, it's not nearly as bad as it used to hurt.
Oh my gosh. Wow. Thanks for pointing all of that out! I honestly never really thought of taking a look in depth with those numbers and your right! Those must have been forged or something because I dont think they honestly would have gotten that much back.
I have pet insurance with Trupanion and I honestly had to do one claim and I got 90% back from the claim that I submitted, minus the vet fees and the deductible. And customer service is suuuuper friendly.
I was actually contemplating about getting pet insurance or not for my dog but my friend's dog had lymphona which cost a fortune and I knew I wouldnt be able to afford it so thats what I decided to further my investigation on the benefits of pet insurance. I know while doing research I checked majority of the companies and a lot of them you can choose to do a free quote. So I compared policies and prices to see what fit my budget. One thing I found to be very valuable is the pet insurance review sites I went on. One major thing that I noticed and stayed away with VPI was the negative feedback that I read about not getting their claims approved or not getting any money back.
My advice is to get pet insurance and also save some money on the side just in case. You can never prepare too much for the future. Do some research too! I really like Trupanion so I would definitely recommend them to anyone!
I have to agree that VPI is horrible - but they sure do seem to spend a lot on advertising! I haven't had a chance (thankfully!) to use our Pet Plan insurance (gopetplan.com) but I'm MUCH happier with their policies.
Wow, I have researched this topic forever and this is the most useful information I have ever seen. I bought a 2/1 deal on sun screen at kmart the other day and went to take them back because the safety label had already been broken. what a waste.
It seems that the major problem with the pet insurance plans is that the maximum payment for treatments is capped too low to be useful for covering major expenses. Say you do have that $7000 vet bill, it seems from the benefits schedule that the max the insurance will pay out for most major things is in the $500 to $1000 range. And thats after a deductible. So if you do end up facing that giant $7000 bill you may only get $400 after deductible from your insurance cause thats what their payment is capped at.
I think it's a ripoff. You're much better off having a specific "pet emergency fund," which you could place in a savings account and at least make a little interest - not much, but still better than just letting it sit. Takes willpower, though.
Our plan is to have our main emergency fund, and then have another meant specifically for car stuff (for when insurance won't cover it) and pet emergencies.
I'm afraid you've just demonstrated the futility of pet insurance:
Under the Major Medical Plan, the cost to insure the dog for 18 months would be $729.72 - nearly $300 more than the reimbursement amount. Under the Medical Plan, the cost to insure the dog for 18 months would be $563 - nearly $200 more than the reimbursement amount. Only the Injury Plan would have saved money - and not that much.
If you someone can afford to sock away $40 a month, just save that amount until you've reached the max amount you're willing to spend on your pet's medical care.
I have to say I find to feel very much the same as the writer. I am an American living in The Netherlands because I married a Dutch national.
The grass is not greener over here in NL. So many people in the states ask me is it free over there as does cost ya nothing? I say nope
Medical care cost my family of 4 over 300 per month. I only get one system to use despite some choice with insurance products. The truth is all the private companies offer health insurance are almost the same. The only thing I think the USA should adopt is that you can not deny people coverage. The people who are not legal residents or citizens in the NL go uncovered just as they do in the USA but in the USA you can't be denied ER care, in NL you can.
The motivation to excel and get excellence is little if none in The Netherlands vs, the USA and I feel that is due to the socialization of everything here. If people are not motivated to work, excel you get nothing, you get people who do not make money or little money this means less taxes. The NL and most of Western Europe are trying to figure out how they are going to keep going with out tax payers at this very moment.
The fact is some of the most influential people come from the USA and few from Western Europe. The best of many things have come from the USA. Why well hunger and freedom is a heck of a motivator. (in my opinion)
However what I found to be a lesson learned from The Netherlands is that never ever ever should we confuse Capitalism as a form of government. This is where I find is a fault in American society. We need to draw a line between capitalism and the over all good for society. For example we do not need the government to control health care, but need the governments to make laws that govern the insurance companies so that they can make money but not at the expense of peoples health. Why don't we take out pre exsisting conditions such as pregnancy or a baby born with a heart defect? Why because I feel they big lobby folks from the insurance companies the politicians who are bank rolled by these folks...capitalism, greed.
And get rid of all your credit cards except one, to keep for emergencies, and to keep your credit "active". Then make sure you don't buy anything you can can't afford to but with cash.
Great post! I especially love the last line: "Look. Most of us can probably use more of the "don't ever spend on anything" articles because we aren't saving enough. " But, there is a awesome point to be made about spending more upfront to save later.
Great stuff--I think that "app" sould be manadatory for all teens with those types of phones!
"Fun is not a byproduct of money"
Great point! This is something my wife and I hear all the time. By nature, we are frugal and generally do not consume a lot. Yet we are CONSTANTLY told by friends and family that we do not have any fun since we do not spend any money. That couldn't be further from the truth! My wife and I go on long bike rides, walks, or will read together for hours. Guess what? We have a blast together. More people would be better off if they would just heed the simple advice above, especially point 4.
The government imposes contribution limits on all types of IRA. The Roth IRA Contribution Limit rules can change. It is essential that you review this, at the beginning of each new financial year. This will ensure you understand the maximum dollar amount you are allowed to deposit in your IRAs for that year.
Roth IRA
From the list of 5 lessons, number 4 is my favorite. I have two outdoor hobbies that I absolutely love. Right after college, I had a new job and was making more money than ever before. I thought that by being able to spend more money on my hobbies I would enjoy them more. Wrong!
Now, I focus on functionality (number 3) and only purchase those items for my hobbies that are going to last and add to the experience. More money does not always equal more fun.
David, My wife is from Zhanjiang, so I visit that coastal area often. I won't be able to retire completely for about four years (although I am probably older than you are - 64). We plan to retire and spend 6-8 months in China each year (the reminder in my home in Iowa City, IA). Obviously, I hope to spend the winter months in China. My Chinese is very poor but slowly improving - right now we live in S. Korea, but I expect that language will get better once living for extended periods in China. Perhaps we could get together sometime.
Bob Grant
Best example of this is "too broke to buy condoms". Everyone can guess the outcome of that one.
I love leftovers.
I'm just not sure it's worth it. Just continue to save your money and you should be prepared to pay the bill. The last time I went to the vet my cat was put to sleep because she was so ill.
This is tangiential, but I am intrigued by how many of us grow up without ever being enough in touch with our own authenticity that we arrive at adulthood and don't even know our passion/s, and knowing what that-thing-we-were-born-to-do is. You shouldn't have to look for your passion, it should be something you can't NOT do.
I can't help but wonder if this is the result of our one-size-fits-all education system that doesn't nurture this soul-seeking in early childhood, where your passion and talents stand out more clearly. Your childhood is part of your life, too, and I think it's important to begin discovering yourself early and not waiting until you need to find out what it is so you can pick the "right" major in college.
OT, I know. Just a thought I had when I read this.
Thanks for a great blog post! It is so important that once people get their debt paid off, they don't just start spending their excess funds, but put at least a portion of these funds into different types of investments and also an emergency fund. I suggest that people save their receipts for an entire month, or even two months, to accurately calculate their spending. Then, as you said, they should ideally save at least 6 months of living expenses. You never know what unexpected situation may come up, whether it is a change in employment, relationships, illness, maternity leave, or anything else. In my blog about using funds from your tax refund, I suggest people put their return into their emergency fund if their debts are all paid off. It's also important for people to know that available credit, such as a line of credit or credit card is not an emergency fund.
How Will You Use Your Tax Refund?: http://jaynsteele.wordpress.com/2010/05/18/how-will-you-use-your-tax-ref...
I'm sure it's not for entertainment, Doc. I have had varicose veins on my feet bilaterally since 2008. I thought my only option was an expensive procedure. About 6 months ago, I started taking baths with about 2 cups of white distilled vinegar for my skin. Today, I noticed that in addition to softer and clearer skin I also had varicose veins that are flatter than before. They also are lighter (almost the color of my skin), and my pain level has decreased from a 10 to a 1. It's a 1 because if someone steps on my feet where the veins are it hurts a little. However, it's not nearly as bad as it used to hurt.
Thanks for including our salsa recipe! We're really enjoying the Beat the Heat summer series. It's just plain too hot to cook around here!
Oh my gosh. Wow. Thanks for pointing all of that out! I honestly never really thought of taking a look in depth with those numbers and your right! Those must have been forged or something because I dont think they honestly would have gotten that much back.
I have pet insurance with Trupanion and I honestly had to do one claim and I got 90% back from the claim that I submitted, minus the vet fees and the deductible. And customer service is suuuuper friendly.
I was actually contemplating about getting pet insurance or not for my dog but my friend's dog had lymphona which cost a fortune and I knew I wouldnt be able to afford it so thats what I decided to further my investigation on the benefits of pet insurance. I know while doing research I checked majority of the companies and a lot of them you can choose to do a free quote. So I compared policies and prices to see what fit my budget. One thing I found to be very valuable is the pet insurance review sites I went on. One major thing that I noticed and stayed away with VPI was the negative feedback that I read about not getting their claims approved or not getting any money back.
My advice is to get pet insurance and also save some money on the side just in case. You can never prepare too much for the future. Do some research too! I really like Trupanion so I would definitely recommend them to anyone!
http://www.trupanionpetinsurance.com
http://www.petinsurancereview.com
I have to agree that VPI is horrible - but they sure do seem to spend a lot on advertising! I haven't had a chance (thankfully!) to use our Pet Plan insurance (gopetplan.com) but I'm MUCH happier with their policies.
Wow, I have researched this topic forever and this is the most useful information I have ever seen. I bought a 2/1 deal on sun screen at kmart the other day and went to take them back because the safety label had already been broken. what a waste.
It seems that the major problem with the pet insurance plans is that the maximum payment for treatments is capped too low to be useful for covering major expenses. Say you do have that $7000 vet bill, it seems from the benefits schedule that the max the insurance will pay out for most major things is in the $500 to $1000 range. And thats after a deductible. So if you do end up facing that giant $7000 bill you may only get $400 after deductible from your insurance cause thats what their payment is capped at.
I think it's a ripoff. You're much better off having a specific "pet emergency fund," which you could place in a savings account and at least make a little interest - not much, but still better than just letting it sit. Takes willpower, though.
Our plan is to have our main emergency fund, and then have another meant specifically for car stuff (for when insurance won't cover it) and pet emergencies.
One good thing to do is not to leave the water running while you rub the CD with the soap.
I'm afraid you've just demonstrated the futility of pet insurance:
Under the Major Medical Plan, the cost to insure the dog for 18 months would be $729.72 - nearly $300 more than the reimbursement amount. Under the Medical Plan, the cost to insure the dog for 18 months would be $563 - nearly $200 more than the reimbursement amount. Only the Injury Plan would have saved money - and not that much.
If you someone can afford to sock away $40 a month, just save that amount until you've reached the max amount you're willing to spend on your pet's medical care.
I have to say I find to feel very much the same as the writer. I am an American living in The Netherlands because I married a Dutch national.
The grass is not greener over here in NL. So many people in the states ask me is it free over there as does cost ya nothing? I say nope
Medical care cost my family of 4 over 300 per month. I only get one system to use despite some choice with insurance products. The truth is all the private companies offer health insurance are almost the same. The only thing I think the USA should adopt is that you can not deny people coverage. The people who are not legal residents or citizens in the NL go uncovered just as they do in the USA but in the USA you can't be denied ER care, in NL you can.
The motivation to excel and get excellence is little if none in The Netherlands vs, the USA and I feel that is due to the socialization of everything here. If people are not motivated to work, excel you get nothing, you get people who do not make money or little money this means less taxes. The NL and most of Western Europe are trying to figure out how they are going to keep going with out tax payers at this very moment.
The fact is some of the most influential people come from the USA and few from Western Europe. The best of many things have come from the USA. Why well hunger and freedom is a heck of a motivator. (in my opinion)
However what I found to be a lesson learned from The Netherlands is that never ever ever should we confuse Capitalism as a form of government. This is where I find is a fault in American society. We need to draw a line between capitalism and the over all good for society. For example we do not need the government to control health care, but need the governments to make laws that govern the insurance companies so that they can make money but not at the expense of peoples health. Why don't we take out pre exsisting conditions such as pregnancy or a baby born with a heart defect? Why because I feel they big lobby folks from the insurance companies the politicians who are bank rolled by these folks...capitalism, greed.
I'd just like to point out that we (VPI) are in fact regulated by the California Department of Insurance.
Willie-Boy
Here was an oat whiskey recipe: http://homedistiller.org/forum/viewtopic.php?f=14&t=4591
They do talk about using baby cereal for recipes too. Be careful, seems it ferments at such a high rate, it can spew out the top. http://homedistiller.org/forum/viewtopic.php?f=11&t=9879
The charring is needed to open the pores and the carbon cleans the alcohol.
Craig,
Great advice. Thank you so much for sharing.
I believe in using cash for your disposable expenses. It makes you appreciate and understand what you're spending on.
And get rid of all your credit cards except one, to keep for emergencies, and to keep your credit "active". Then make sure you don't buy anything you can can't afford to but with cash.
Great post! I especially love the last line: "Look. Most of us can probably use more of the "don't ever spend on anything" articles because we aren't saving enough. " But, there is a awesome point to be made about spending more upfront to save later.