I'm so tired of hearing about people who say it's Oh So Simple to afford children, simply Cut Out Those Starbuck Coffees, dinners out, that evening at the bar with friends, and I believe the poster also referred to "multiple plane trips a year" - wow. You are very fortunate people - and I will add because this is not just sour grapes because - you are fortunate people who likely prepared yourselves well for your careers, are talented, and are driven enough to have enjoyed salaries that gave you those luxuries, items that you could give up.
Your sacrifice holds lesser meaning to someone like me, I am less successful, I guess I didn't plan well enough, didn't get the right degree... and have realized over the years that the financial situation is not getting better fast enough the be able to have a child. I can't give up the items you mentioned to make extra money because we can't afford them now! We almost never go out except birthdays, haven't had a vacation in five years. Not even a weekend trip. There is nothing left to cut, not enough small treats to sacrifice that will make a difference in our income to the point that we will be able to afford a child, even though we have good stable jobs, and though I have received several raises. It is such a jump when you are in the lower middle class range. When forty starts to get as close as thirty, there is a point when i just have to realize, it will never ever ever be possible. All of the fun money, all of it, goes to pay child support to a person who says she doesn't even need it.
To add to #1 keeping cash on hand, it makes sense to keep smaller bills handy. If suddenly you find yourself evacuating (like after Katrina) you may be dealing with people who don't have cash to break a $100 bill or even a $20.
hello in my opinion some crazy things that you dont understand can be the best...i got a card in the mail a year or so ago and decided to research it. (from netspend) afterall, i was tired of banks and all their stupid fees and excuses to take your money. i would get paid and 2 or 3 days later id have stupid fees being billed to me not to mention with bank of america, i had my card stolen and they are not very good at idenity theft protection or the fact that i paid for overdraft protection and didnt get it. with my husband in the military and being awaey we werent able to balance our cards often because he was overseas with little communicaition so overdraft would have helped if it worked right. finally i researched and discovered it was completley fine. i have had it every since. they dont slap 30 fees on like other banks, there is no way to go negative. when i buy something an alert is sent to mine and my husbands cells letting us know our new balance it is great. where in other banks if you buy something it may take 3 or 4 days to come out and leave you confused on your balance, with netspend it is instant. not to mention they offer iadvance whitch is a line of credit that is completley online and if you need 20 or 40 dollars before payday they will send it right to your account.i pay like 5 dollars interest when i do this but for unexpected expenses it is very nice. in the past year i have showed over 10 ppl how to switch, all love it and nomore feel the need to bounce around with banks nemore. as an added bonus my sister is stationed in germany and i used to have to pay large fees to send her money and now she uses netspend also so it is completely free and takes like 2 minutes when i send her money online from my card to hers. and we get paid about 5 days before our payday, even income taxes. they dont hold your money, right when it shows up, it is released...
I'd like to add a point to #3 on your list. I would hope that you would advocate that the Roth IRA be invested very conservatively, either in government bonds or very high quality corporate paper. Otherwise, someone could lose their job and have to withdraw savings at a time when the stock market is down.
Other than that, great concept though. I also think having too much money in cash is a personal finance sin.
Just wandering what my best route would be in refinancing a 30 yr mortgage of 88,000 at 5.62 with 24 years left to pay. Now, thinking about getting a 30yr fixed at 5.0 for 100,000.00 to build a barn for farming investments. The extra money would build a barn & improve our place. Was looking at these options: home equity was too high for us, 15yr fixed at 4.375 was too high for us. The 30yr fixed at 5.0 for 100,000.00 seemed to be right for us, payments of 536.82 a month. We are 45 years old. Is this a bad route for us to take. We are building a horse barn for possible extra income coming in. We live in a location in East TN, where the income earnings are low. We thought about the extra payment, or extra money monthly option. What do you recommend? The barn would increase our property value & hopefully make extra money training & selling horses, or possible boarding. Any suggestions...Thank You, helpful site!
Teresa
Like you, I have a netspend prepaid card also. Like so many other of us that didn't walk the line when I was younger, I went through a divorce, custody battle, and a few subsequent ok choices made from bad options to begin with and am not able to get a regular credit card or bank account. This serves as both for me! I can only spend what I put on it, I'm still able to make hotel reservations, purchase a rental car, have direct deposit for my paycheck, and make purchases online, or from a catalog. MUCH better than all the ATM fees, Balance check fees, Money Order Fees and overdraft fees that EVERY bank in America charges anyway. People, please quit griping, not everyone in this country has good enough to credit, makes enough money, or even trusts enough to carry lots of money on them or put them into a bank. Think about all the things in life today that requires a credit card just to plan ahead and imagine how you'd accomplish these thinkgs if you only had cash in your pocket. I've been with netspend, walmart prepaid, and all acess visa for a little over 2 years now with no problems at all, I'm able to have a seperate savings account, and seperate accounts for both my new husband and I without having to dig ourselves into any more debt or putting ourselves at risk of being robbed with all of our cash on us. It takes a little of something for all of us to be able to survive, and all of you with good credit, savings accounts, and clean backgrounds should thank GOD that they have not been put into positions where they had to try and make a good choice of crappy options!!! I thank God that today, I don't either, HOWEVER, our past stays with us forever and keeps us being judged unfairly by the American "Elite". Contrary to popular belief, not everyone without credit or without insurance is someone that isn't willing to work for it. Some of us are the hardest working people you've ever met and you probably wouldn't know how to begin to imagine the lives we've led.
I think those natural acids that are in that stuff might actually work but i'm gonna try that it's too much money. I ordered some 100% Trichloroacetic acid. It needs to be diluted. It was like $16 with shipping.
Bankruptcy is a darn good deal for many of those who are in 30k of debt. Slap down $1500 and your debt is, more or less, wiped clean. You'll have a scarlet letter on your credit report for a few years, but if you own your home, who cares?
I have had wonderful experiences with this card. I have been a customer since 2006 and enjoy great perks such as getting paid up to 5 days before anyone else in my office receives their pay. I receive constant text messages with a running balance and I never ever pay overdraft fees. When they send your card they only used your name not your SSN. If you were to have activated the card they would have verified all that information. So you identity was not compromised.
Netspend has come in to help those of us who have had bad experiences with financial institutions and wanted something simple and easy.
I can understand your frustration at receiving a card you didn't ask for, they do have a referral service were friends and family can refer others. Your SSN is never asked for during the referral, just the name and address.
im so glad that i read all of this before I even thought about opening an account...i thought i was weird that someone jsut sent me a card without me even knowing anything about it...g
Plan to save weekly - a simple savings account, even $25 per week over 2-3 years adds up, never touch a 401 K and don't touch an IRA unless your most valuable asset depends on it. Don't get debt that you don't need, simple but it works. Credit Card not cards - 1 with a limit of no more than $1000 to be used in a crisis, don't use one from your bank, get one on-line with a high risk lender, they are used to waiting on their money, pay the minimum at best until the crisis is over then hurriedly pay it down to avoid the crazy interest. Don't store anything of value in your house, it will get lost or stolen - find a credit union (CU) with a solid reputation and use a safe deposit box for valuables and cash, keep your itemized record of the account handy and forget banks at this time, they are all about the bottom line and profit. CUs attempt to build a relationship with you and you can build one with them, at your worst offset, if your rep with them is solid to excellent, they will give you money and help you tackle your finances until you're back on track.
Last November when my employer began quietly laying people off, my husband and I made a plan in case that happened to me. At the time it was an exercise to calm my nerves, but 3 months later when I was in fact laid off, we went immediately to The Plan. Having it helped us through the paralyzing fear that accompanies such dramatic changes in circumstances. We'd already done the work of rationalizing the worst case scenario (foreclosure, moving in with his parents) and were able to move forward. Because we were able to act quickly, everything has worked out very well.
The Plan doesn't have to be fancy. When crisis comes, any plan at all is helpful. Plus, if you've already reconciled yourself to living in someone's living room, anything better that comes along seems great.
"I'm including this at the bottom of the list because it isn't technically a way to access money, but this should probably be the first thing you think of in a emergency situation — once you are clear of any immediate danger."
I disagree with (a part of) the statement you made in #6. The purpose of your article is to discuss an Emergency Plan. Whether #6 (reduce your expenses) is a way to access money is irrelevant. An Emergency Plan should be how to access money as well as options to reduce your expenses.
I agree with the rest of your statement though. Reducing your expenses should be one of the first things you think of when an emergency arises.
In fact, if an emergency arises for me, I look to fund it... but PRIMARILY, I look for a way to reduce my other expenses to compensate.
I'm sure making your own pasta is lovely, but did you know you can get delicious rice pasta at Trader Joe's for $1.99 per pound bag? That's a great deal, especially for someone, like me, who doesn't have time to make my pasta from scratch!
While we got by on that, it certainly wasn't fun (or a goal I would set for the future.) Our situation was certainly unique, and we were able to get by on so little by doing a few of the following:
Wood stove for heating the house - Our home had no furnace, so my husband spent much of his time (when he wasn't applying for jobs) cutting wood each day. We went through a lot of wood to heat our two story home, so this was almost a full-time job for him! This saved us on heating costs.
Our transportation/gasoline costs were $0. Because we were working from home, we didn't have the hour each-way commute that others in our community had. We had a car that we purchased from a friend for $300, and when we needed to take everyone out (to church or a family event), we carpooled with my parents (who lived right next door.)
We had no rent/mortgage. We lived in a house that I grew up in and that my grandmother owned. It was part of a family farm property but needed a lot of work. We were able to live there in exchange for making improvements to the property (updated electricity, plumbing, etc.) This also kept my husband very busy! We have since moved into a home that we are purchasing on a land lease arrangement.
We purchased a high-dectible health insurance plan. This was very affordable, and since we were both in good health, kept our medical costs under $1500 a year.
We shared large purchases. We lived next door to my parents and were close to members of our church with similar interests. We were able to buy chicks, share eggs and milk, and go together on larger purchases (like a food dehydrator, hay for our cows, tractor parts, etc.)
We have 3 boys. This means everything was handed down (shoes, coats, hats, etc). We almost never had to buy anything new for 2 of our kids!
We grew a large garden and raised our own chickens and cows. This required an investment of time and money, but the quality of food we got in return was well worth the cost/effort! We now have 50 laying hens, and if we ever wondered what we would eat, we would have eggs! (Quiche, omelets, etc.)
We qualified for some assistance programs in our area. We did accept this help when we needed it most, and were grateful that it was available! With community grants for energy upgrades and some programs through our local services office, we were able to get through the toughest of months until better days came. As a taxpayer, it was good to know that those same services that we were paying into for years could help us in our time of need, and I don't regret it, at all. I suggest that you ask around to see what may be available to you, if you find yourself out of work or underemployed for a lengthy amount of time. Community programs will differ by state, and even county!
I also should point out that the cost of living for our area is very low. You can rent whole houses with 3 bedrooms for under $500 a month. Part of our decision to live so remotely was based on the fact that we could earn less and have a higher standard of living.
Shortly after I was diagnosed with celiac we discovered that many of my favorite commercially-available spice packets had ingredients that were prohibited. In response, we now custom-mix our own spices in a small, hand-held coffee grinder. This is a great tool that no kitchen should be without - even if, like us, you don't drink coffee. I think we paid less than $20 for the one we use.
The spices can be purchased cheaply in bulk and we found that the flavors in the spices are actually revitalized by the grinding process! By the way, it works great for grinding small amounts of rice or (gluten-free) oats into flour for recipies.
Kitchenaid mixers can easily stand up to the task for GF bread dough. Unlike traditional bread dough, GF bread dough (and most other GF doughs) are closer in consistency to cake batter. Rather than using the dough hook to knead the dough, you use the paddle to whip air into it.
I have used netspend in the past for direct deposit and i have also had my tax refund loaded onto the card and I have never had one single problem with them. Netspend is a Debit card it is not a credit card so all you people whining and complaining about receiving these cards just need to shut the hell up and stop being so damn paranoid nobody is trying to steal your identity if you have no need for the card then throw it in the trash and get on with your life.
Like so many others, I saw you in All Your Magazine. I am so happy for you that you found success blogging. I must say that you are an inspiration to me. For quite a while now, I've been interested beefing up my blog so that I can earn money, some of which I'd like to donate to charity and hopefully help others. I've been discouraged about it lately but after hearing your story I think I am really going to pursue it. Thanks for the inspiration! I know it's hard work, but you've shown that it can pay off.
I'm so tired of hearing about people who say it's Oh So Simple to afford children, simply Cut Out Those Starbuck Coffees, dinners out, that evening at the bar with friends, and I believe the poster also referred to "multiple plane trips a year" - wow. You are very fortunate people - and I will add because this is not just sour grapes because - you are fortunate people who likely prepared yourselves well for your careers, are talented, and are driven enough to have enjoyed salaries that gave you those luxuries, items that you could give up.
Your sacrifice holds lesser meaning to someone like me, I am less successful, I guess I didn't plan well enough, didn't get the right degree... and have realized over the years that the financial situation is not getting better fast enough the be able to have a child. I can't give up the items you mentioned to make extra money because we can't afford them now! We almost never go out except birthdays, haven't had a vacation in five years. Not even a weekend trip. There is nothing left to cut, not enough small treats to sacrifice that will make a difference in our income to the point that we will be able to afford a child, even though we have good stable jobs, and though I have received several raises. It is such a jump when you are in the lower middle class range. When forty starts to get as close as thirty, there is a point when i just have to realize, it will never ever ever be possible. All of the fun money, all of it, goes to pay child support to a person who says she doesn't even need it.
To add to #1 keeping cash on hand, it makes sense to keep smaller bills handy. If suddenly you find yourself evacuating (like after Katrina) you may be dealing with people who don't have cash to break a $100 bill or even a $20.
hello in my opinion some crazy things that you dont understand can be the best...i got a card in the mail a year or so ago and decided to research it. (from netspend) afterall, i was tired of banks and all their stupid fees and excuses to take your money. i would get paid and 2 or 3 days later id have stupid fees being billed to me not to mention with bank of america, i had my card stolen and they are not very good at idenity theft protection or the fact that i paid for overdraft protection and didnt get it. with my husband in the military and being awaey we werent able to balance our cards often because he was overseas with little communicaition so overdraft would have helped if it worked right. finally i researched and discovered it was completley fine. i have had it every since. they dont slap 30 fees on like other banks, there is no way to go negative. when i buy something an alert is sent to mine and my husbands cells letting us know our new balance it is great. where in other banks if you buy something it may take 3 or 4 days to come out and leave you confused on your balance, with netspend it is instant. not to mention they offer iadvance whitch is a line of credit that is completley online and if you need 20 or 40 dollars before payday they will send it right to your account.i pay like 5 dollars interest when i do this but for unexpected expenses it is very nice. in the past year i have showed over 10 ppl how to switch, all love it and nomore feel the need to bounce around with banks nemore. as an added bonus my sister is stationed in germany and i used to have to pay large fees to send her money and now she uses netspend also so it is completely free and takes like 2 minutes when i send her money online from my card to hers. and we get paid about 5 days before our payday, even income taxes. they dont hold your money, right when it shows up, it is released...
I'd like to add a point to #3 on your list. I would hope that you would advocate that the Roth IRA be invested very conservatively, either in government bonds or very high quality corporate paper. Otherwise, someone could lose their job and have to withdraw savings at a time when the stock market is down.
Other than that, great concept though. I also think having too much money in cash is a personal finance sin.
@Stewardship: Great tips, thanks!
@Q: Making a plan ahead of time so you're ready to enact it is the key to keeping your sanity during a tough time. I'm glad that worked out for you.
Just wandering what my best route would be in refinancing a 30 yr mortgage of 88,000 at 5.62 with 24 years left to pay. Now, thinking about getting a 30yr fixed at 5.0 for 100,000.00 to build a barn for farming investments. The extra money would build a barn & improve our place. Was looking at these options: home equity was too high for us, 15yr fixed at 4.375 was too high for us. The 30yr fixed at 5.0 for 100,000.00 seemed to be right for us, payments of 536.82 a month. We are 45 years old. Is this a bad route for us to take. We are building a horse barn for possible extra income coming in. We live in a location in East TN, where the income earnings are low. We thought about the extra payment, or extra money monthly option. What do you recommend? The barn would increase our property value & hopefully make extra money training & selling horses, or possible boarding. Any suggestions...Thank You, helpful site!
Teresa
Like you, I have a netspend prepaid card also. Like so many other of us that didn't walk the line when I was younger, I went through a divorce, custody battle, and a few subsequent ok choices made from bad options to begin with and am not able to get a regular credit card or bank account. This serves as both for me! I can only spend what I put on it, I'm still able to make hotel reservations, purchase a rental car, have direct deposit for my paycheck, and make purchases online, or from a catalog. MUCH better than all the ATM fees, Balance check fees, Money Order Fees and overdraft fees that EVERY bank in America charges anyway. People, please quit griping, not everyone in this country has good enough to credit, makes enough money, or even trusts enough to carry lots of money on them or put them into a bank. Think about all the things in life today that requires a credit card just to plan ahead and imagine how you'd accomplish these thinkgs if you only had cash in your pocket. I've been with netspend, walmart prepaid, and all acess visa for a little over 2 years now with no problems at all, I'm able to have a seperate savings account, and seperate accounts for both my new husband and I without having to dig ourselves into any more debt or putting ourselves at risk of being robbed with all of our cash on us. It takes a little of something for all of us to be able to survive, and all of you with good credit, savings accounts, and clean backgrounds should thank GOD that they have not been put into positions where they had to try and make a good choice of crappy options!!! I thank God that today, I don't either, HOWEVER, our past stays with us forever and keeps us being judged unfairly by the American "Elite". Contrary to popular belief, not everyone without credit or without insurance is someone that isn't willing to work for it. Some of us are the hardest working people you've ever met and you probably wouldn't know how to begin to imagine the lives we've led.
I think those natural acids that are in that stuff might actually work but i'm gonna try that it's too much money. I ordered some 100% Trichloroacetic acid. It needs to be diluted. It was like $16 with shipping.
Bankruptcy is a darn good deal for many of those who are in 30k of debt. Slap down $1500 and your debt is, more or less, wiped clean. You'll have a scarlet letter on your credit report for a few years, but if you own your home, who cares?
Netspend rocks
I have had wonderful experiences with this card. I have been a customer since 2006 and enjoy great perks such as getting paid up to 5 days before anyone else in my office receives their pay. I receive constant text messages with a running balance and I never ever pay overdraft fees. When they send your card they only used your name not your SSN. If you were to have activated the card they would have verified all that information. So you identity was not compromised.
Netspend has come in to help those of us who have had bad experiences with financial institutions and wanted something simple and easy.
I can understand your frustration at receiving a card you didn't ask for, they do have a referral service were friends and family can refer others. Your SSN is never asked for during the referral, just the name and address.
im so glad that i read all of this before I even thought about opening an account...i thought i was weird that someone jsut sent me a card without me even knowing anything about it...g
Plan to save weekly - a simple savings account, even $25 per week over 2-3 years adds up, never touch a 401 K and don't touch an IRA unless your most valuable asset depends on it. Don't get debt that you don't need, simple but it works. Credit Card not cards - 1 with a limit of no more than $1000 to be used in a crisis, don't use one from your bank, get one on-line with a high risk lender, they are used to waiting on their money, pay the minimum at best until the crisis is over then hurriedly pay it down to avoid the crazy interest. Don't store anything of value in your house, it will get lost or stolen - find a credit union (CU) with a solid reputation and use a safe deposit box for valuables and cash, keep your itemized record of the account handy and forget banks at this time, they are all about the bottom line and profit. CUs attempt to build a relationship with you and you can build one with them, at your worst offset, if your rep with them is solid to excellent, they will give you money and help you tackle your finances until you're back on track.
Last November when my employer began quietly laying people off, my husband and I made a plan in case that happened to me. At the time it was an exercise to calm my nerves, but 3 months later when I was in fact laid off, we went immediately to The Plan. Having it helped us through the paralyzing fear that accompanies such dramatic changes in circumstances. We'd already done the work of rationalizing the worst case scenario (foreclosure, moving in with his parents) and were able to move forward. Because we were able to act quickly, everything has worked out very well.
The Plan doesn't have to be fancy. When crisis comes, any plan at all is helpful. Plus, if you've already reconciled yourself to living in someone's living room, anything better that comes along seems great.
"I'm including this at the bottom of the list because it isn't technically a way to access money, but this should probably be the first thing you think of in a emergency situation — once you are clear of any immediate danger."
I disagree with (a part of) the statement you made in #6. The purpose of your article is to discuss an Emergency Plan. Whether #6 (reduce your expenses) is a way to access money is irrelevant. An Emergency Plan should be how to access money as well as options to reduce your expenses.
I agree with the rest of your statement though. Reducing your expenses should be one of the first things you think of when an emergency arises.
In fact, if an emergency arises for me, I look to fund it... but PRIMARILY, I look for a way to reduce my other expenses to compensate.
I'm sure making your own pasta is lovely, but did you know you can get delicious rice pasta at Trader Joe's for $1.99 per pound bag? That's a great deal, especially for someone, like me, who doesn't have time to make my pasta from scratch!
I visited your blog and signed up as a subscriber. I wish you all the best!
Linsey Knerl
While we got by on that, it certainly wasn't fun (or a goal I would set for the future.) Our situation was certainly unique, and we were able to get by on so little by doing a few of the following:
I also should point out that the cost of living for our area is very low. You can rent whole houses with 3 bedrooms for under $500 a month. Part of our decision to live so remotely was based on the fact that we could earn less and have a higher standard of living.
Thanks for the comments!
Linsey Knerl
Shortly after I was diagnosed with celiac we discovered that many of my favorite commercially-available spice packets had ingredients that were prohibited. In response, we now custom-mix our own spices in a small, hand-held coffee grinder. This is a great tool that no kitchen should be without - even if, like us, you don't drink coffee. I think we paid less than $20 for the one we use.
The spices can be purchased cheaply in bulk and we found that the flavors in the spices are actually revitalized by the grinding process! By the way, it works great for grinding small amounts of rice or (gluten-free) oats into flour for recipies.
Kitchenaid mixers can easily stand up to the task for GF bread dough. Unlike traditional bread dough, GF bread dough (and most other GF doughs) are closer in consistency to cake batter. Rather than using the dough hook to knead the dough, you use the paddle to whip air into it.
Steering people to websites that, for the most part, sell things, isn't a great way to find freebies.
Two are.
craigslist has a free section. A really free section.
And freecycle.org has groups that give away things (and let you give away things) based on your neighborhood.
I have used netspend in the past for direct deposit and i have also had my tax refund loaded onto the card and I have never had one single problem with them. Netspend is a Debit card it is not a credit card so all you people whining and complaining about receiving these cards just need to shut the hell up and stop being so damn paranoid nobody is trying to steal your identity if you have no need for the card then throw it in the trash and get on with your life.
We have a few container floorplans in stock; and have production slots to manufacture more quickly.
http://www.elitebuildings.com/products-services/container-solutions/cont...
Hi Linsey,
Like so many others, I saw you in All Your Magazine. I am so happy for you that you found success blogging. I must say that you are an inspiration to me. For quite a while now, I've been interested beefing up my blog so that I can earn money, some of which I'd like to donate to charity and hopefully help others. I've been discouraged about it lately but after hearing your story I think I am really going to pursue it. Thanks for the inspiration! I know it's hard work, but you've shown that it can pay off.
By the way, families.com is looking for bloggers. Perhaps this could be another avenue of revenue for you. Check it out at: http://about.families.com/become-a-blogger
Please stop by blog, Blessings from Above, http://blessingsfromabove2.blogspot.com to contect with me when you have time.
Blessings!
Denise