I absolutely LOVE this video. Please take a couple minutes to watch it and think about what's important in your life this season.
WATCH THIS!!!
Field Trip Fun
1 month ago
Sunday, December 6, 2009
Changing Focus: Giving Back
In a recent post, I talked about staying motivated. One of the things I have realized about the power of being debt free is the freedom it gives you to change the focus of your life. If you truly follow Dave's teaching and get gazelle intense about paying off debt, you really have to get honest with yourself about what is important and what is not critical. Once you get used to living with less, you realize how pointless a lot of that stuff is. You also realize how well you really have it.
That is one of the things that has stood out the most to me through this whole process. My desire to give back to the community and help the less fortunate has really resurfaced. While we were paying down debt, we didn't really have (or make) money to do things like giving to charities. I know Dave says you should tithe first and not even count that as your income, but we've never done that. I never really grew up in that pure tithing mentality and had a hard time coming to grips with all of that when we had so much we needed/wanted to do in our own household.
I'm proud to say, now that we are debt free, we are revisiting the topic. We've both prayed about it a lot over the past several months and strongly feel the need to give back. We've revised our budget to contribute more to church next year. We also are participating in a lot of other charitable efforts. This means we'll have to continue to watch our pennies, coupon, put off a lot of "wants" and focus on our needs. And I can easily say that it will be worth every effort.
So, where do we give? Here are some of the things we've been doing this year:
* St. Jude Partner in Hope - This is a simple $20 donation every month. I believe strongly in the efforts of St. Jude and hope to continue to increase our support in the years to come.
* School Supplies - Our church partners with a local inner-city school. I put all those great back-to-school specials to good use and donated a lot of supplies to the effort. In the end, they were able to pack several back packs full of supplies for kids who can't normally afford them.
* Thanksgiving Dinner - Our church provided a shopping list that would provide every thing a family would need for Thanksgiving (minus the turkey). At first I was nervous about buying an ENTIRE list, but was surprised to find out it only cost us about $25-$30 to purchase every thing. I could have done it even cheaper if I had planned better and used more coupons. It was humbling to me to realize that the old me would have shied away from such a long list... and a family would have had to go without because I wasn't willing to sacrifice $30 and a little of my time.
* Tree of Love - Again, our church partnered with the local elementary school and families that come to their food pantry to develop a list of needy children. We chose 2 tags from the tree - a 3 year old boy and 4 month old boy. I used some of the recent coupons to get each of them a nice toy and a pair of pajamas. Troy helped me pick them out (hopefully the message will sink in to him). I was amazed this morning to see the HUGE pile of presents under the tree and touched to know that we're helping to make Christmas brighter for children in need.
* Donations - I used to give my stuff to Goodwill when we didn't sell it in a garage sale or I didn't feel like dealing with it. Just recently I've changed my giving efforts to take any clothing or children's items to the local Woman's shelter. There are a lot of struggling mom's out there that can't even afford the inexpensive Goodwill prices. Hopefully our donations can give them a couple more outfits for their little angels so they have one less thing to worry about.
* Salvation Army - I'm proud to say that Troy LOVES to give to the people ringing the bell for Salvation Army. I carry a zip-lock bag full of coins from his "DONATE" portion of his piggy bank. Again, I hope some of it is really sinking in.
This is just a small list of things we try to do to show our appreciation for what God has given us. Next year I plan on focusing on finding new ways to give back - financially and through volunteering.
Share your favorite charity. I'm always eager to find new organizations!
That is one of the things that has stood out the most to me through this whole process. My desire to give back to the community and help the less fortunate has really resurfaced. While we were paying down debt, we didn't really have (or make) money to do things like giving to charities. I know Dave says you should tithe first and not even count that as your income, but we've never done that. I never really grew up in that pure tithing mentality and had a hard time coming to grips with all of that when we had so much we needed/wanted to do in our own household.
I'm proud to say, now that we are debt free, we are revisiting the topic. We've both prayed about it a lot over the past several months and strongly feel the need to give back. We've revised our budget to contribute more to church next year. We also are participating in a lot of other charitable efforts. This means we'll have to continue to watch our pennies, coupon, put off a lot of "wants" and focus on our needs. And I can easily say that it will be worth every effort.
So, where do we give? Here are some of the things we've been doing this year:
* St. Jude Partner in Hope - This is a simple $20 donation every month. I believe strongly in the efforts of St. Jude and hope to continue to increase our support in the years to come.
* School Supplies - Our church partners with a local inner-city school. I put all those great back-to-school specials to good use and donated a lot of supplies to the effort. In the end, they were able to pack several back packs full of supplies for kids who can't normally afford them.
* Thanksgiving Dinner - Our church provided a shopping list that would provide every thing a family would need for Thanksgiving (minus the turkey). At first I was nervous about buying an ENTIRE list, but was surprised to find out it only cost us about $25-$30 to purchase every thing. I could have done it even cheaper if I had planned better and used more coupons. It was humbling to me to realize that the old me would have shied away from such a long list... and a family would have had to go without because I wasn't willing to sacrifice $30 and a little of my time.
* Tree of Love - Again, our church partnered with the local elementary school and families that come to their food pantry to develop a list of needy children. We chose 2 tags from the tree - a 3 year old boy and 4 month old boy. I used some of the recent coupons to get each of them a nice toy and a pair of pajamas. Troy helped me pick them out (hopefully the message will sink in to him). I was amazed this morning to see the HUGE pile of presents under the tree and touched to know that we're helping to make Christmas brighter for children in need.
* Donations - I used to give my stuff to Goodwill when we didn't sell it in a garage sale or I didn't feel like dealing with it. Just recently I've changed my giving efforts to take any clothing or children's items to the local Woman's shelter. There are a lot of struggling mom's out there that can't even afford the inexpensive Goodwill prices. Hopefully our donations can give them a couple more outfits for their little angels so they have one less thing to worry about.
* Salvation Army - I'm proud to say that Troy LOVES to give to the people ringing the bell for Salvation Army. I carry a zip-lock bag full of coins from his "DONATE" portion of his piggy bank. Again, I hope some of it is really sinking in.
This is just a small list of things we try to do to show our appreciation for what God has given us. Next year I plan on focusing on finding new ways to give back - financially and through volunteering.
Share your favorite charity. I'm always eager to find new organizations!
Amazing Deal of the Day: JC Penney
I was on the JCPenney website this morning looking for some thing else and stumbled across this amazing deal. We are one of those rare families that doesn't actually own a Wii. We decided it wasn't a "need" at all and that we could delay the temptation until next year, but when I saw this deal I couldn't resist. I figured for $8.99, it would be a good way for us to get our fix until we decide to invest in a real system.
I ended up picking up 2 extras for other small gifts. Again, for $8.99 you really can't go wrong. In all, I got one for us and 2 as gifts along with another small item on sale for a total savings of $264.01! Now that I saw this amazing Daily Deal, I am going to have to make an effort to visit the Daily Deal a little more regularly!!!
Note: Limited Quantities Available, so the deal may go quickly.
Sunday, November 29, 2009
Secrets Revealed...
We all know about this all-powerful "judge & jurry" system out there called FICO, but until just recently we had little idea at what the rationale was for the punishments that were distributed. We're not idiots. We know that late payments hurt your credit, but how do they actually come to the number that banks rely on so heavilty when deciding your rates.
This past Thursday, the "damage points" data was revieled. It's a very broad and vague description, but I found it quite interesting so I thought I would share. You can read the full article here. What I find interesting is that you take a bigger hit for late payments if you have good credit than you would if your credit was just average. Every one makes mistakes some times. It seems wrong to hold people who have good credit to a higher standard as if it's just expected from "average" people and some how less offensive.
None of this will matter when we're completely debt free and no longer rely on the all-powerful FICO. After all, your credit score doesn't matter much when you pay in cash. In the mean time, however, it makes for some interesting reading.
This past Thursday, the "damage points" data was revieled. It's a very broad and vague description, but I found it quite interesting so I thought I would share. You can read the full article here. What I find interesting is that you take a bigger hit for late payments if you have good credit than you would if your credit was just average. Every one makes mistakes some times. It seems wrong to hold people who have good credit to a higher standard as if it's just expected from "average" people and some how less offensive.
None of this will matter when we're completely debt free and no longer rely on the all-powerful FICO. After all, your credit score doesn't matter much when you pay in cash. In the mean time, however, it makes for some interesting reading.
Friday, November 20, 2009
Want a good Christmas Gift Idea?
The Dave Ramsey Website is having a great $10 Thankgsiving Sale. I think I might be changing some of my Christmas gift ideas.
Check out these deals!
You can get some of the best products for up to 60% off. Do you know any one that would benefit from a little positive guidance?! This is a perfect time of year to share.
Check out these deals!
You can get some of the best products for up to 60% off. Do you know any one that would benefit from a little positive guidance?! This is a perfect time of year to share.
Staying motivated
Kara asked me how we stay motivated now that we're debt free. I'll confess. This has been a little bit of a challenge for me. The first month after we were debt free we lightened up a lot and celebrated a little - mostly by going out to a couple nice dinners. Then we got focused again, determined to have our fully funded emergency fund before the end of the year. Once we hit that milestone in September, we sort of lightened up a little again. We didn't stay as gazelle intense as we had in the past, but we didn't just "blow" our money either.
As we were going through the process of becoming debt free and building our emergency fund, Tim and I talked about some of the things we have wanted for a while and put on hold. We decided that we would allow us to buy a couple of our wants as rewards for our hard work. We each moved an item from our wish list to the top of the list we keep for our "extra" income (i.e. my income and Tim's bonuses). We budgeted for a new camera and t.v. Along the way we had 2 other wants come up, but luckily we had some wiggle room in our budget to accommodate them - stove (because ours went out) and home gym (because it was cheaper than us both joining the gym).
So far, we've been able to get 3 of the 4 items. I ended up finding the camera I wanted on e-bay for half the cost of buying it new. Tim found the home gym on Craig's List for a fraction of the cost of buying it new. We also splurged on a new stove and got the type that is a double oven built in to the standard range size. While those can cost up to $1500, we shopped around and found one for about $750. All in all, we've been very pleased and have gotten good deals by shopping around and paying cash. Our last item is the t.v. We're taking our time to figure out what we really want and will be taking advantage of the holiday sales.
So... as you can see, our spending has gone up recently. Even though we've splurged a lot, I wouldn't really say we've lost focus or motivation. We still track every penny. We still shop around for the best deals. We still plan for every thing (including our splurges). Each step along the way, I think we find a new motivation. When we were on Baby Steps #2 it was becoming Debt Free. When we hit that milestone, it was getting our fully funded emergency fund. Now that our rewards are done, we're pushing ourselves in new ways. I'll be writing more in another post about our 2010 goals, but in general it includes investing, planning ahead, and giving back. All the things Dave encourages with Baby Steps #4, #5, and #7.
I think the best way to stay motivated is to continually adjust your goals and redifine your focus. One of the reasons the Baby Steps worked for us is because they were attainable, measurable goals. As we check off each step, it's empowering and really helps you build momentum toward your next goal. It's a fluid plan that changes as your life changes... it grows as you grow.
Oh, and by the way... I think it's okay to reward yourself along the way, too, as long as you plan for it. Maybe that's me justifying things, but as long as it doesn't distract us or keep us from our bigger goals than I'm okay with it.
As we were going through the process of becoming debt free and building our emergency fund, Tim and I talked about some of the things we have wanted for a while and put on hold. We decided that we would allow us to buy a couple of our wants as rewards for our hard work. We each moved an item from our wish list to the top of the list we keep for our "extra" income (i.e. my income and Tim's bonuses). We budgeted for a new camera and t.v. Along the way we had 2 other wants come up, but luckily we had some wiggle room in our budget to accommodate them - stove (because ours went out) and home gym (because it was cheaper than us both joining the gym).
So far, we've been able to get 3 of the 4 items. I ended up finding the camera I wanted on e-bay for half the cost of buying it new. Tim found the home gym on Craig's List for a fraction of the cost of buying it new. We also splurged on a new stove and got the type that is a double oven built in to the standard range size. While those can cost up to $1500, we shopped around and found one for about $750. All in all, we've been very pleased and have gotten good deals by shopping around and paying cash. Our last item is the t.v. We're taking our time to figure out what we really want and will be taking advantage of the holiday sales.
So... as you can see, our spending has gone up recently. Even though we've splurged a lot, I wouldn't really say we've lost focus or motivation. We still track every penny. We still shop around for the best deals. We still plan for every thing (including our splurges). Each step along the way, I think we find a new motivation. When we were on Baby Steps #2 it was becoming Debt Free. When we hit that milestone, it was getting our fully funded emergency fund. Now that our rewards are done, we're pushing ourselves in new ways. I'll be writing more in another post about our 2010 goals, but in general it includes investing, planning ahead, and giving back. All the things Dave encourages with Baby Steps #4, #5, and #7.
I think the best way to stay motivated is to continually adjust your goals and redifine your focus. One of the reasons the Baby Steps worked for us is because they were attainable, measurable goals. As we check off each step, it's empowering and really helps you build momentum toward your next goal. It's a fluid plan that changes as your life changes... it grows as you grow.
Oh, and by the way... I think it's okay to reward yourself along the way, too, as long as you plan for it. Maybe that's me justifying things, but as long as it doesn't distract us or keep us from our bigger goals than I'm okay with it.
Tuesday, November 17, 2009
Financial Check-up: October
Delayed as always, but here it is.
Goals for October:
* Keep grocery budget to $500! (This seems like it will be an on-going challenge)- I didn't make it under $500, but I'm getting closer. Last month was $519.75. This is the first time I've been below $550 in ages. While this is still an on-going challenge for me, I know it's not realistic with holiday cooking so I'll probably put it on hold until the new year.
* Review insurance records so I can catch up on all medical/dental payments and plan remaining treatments for the year. - DONE!
* Start Baby Step #4 and determine our plan of attack! - Tim has had numerous conversations with our financial advisor. We have our investments in order. He also restarted his 401(k). We're contributing up to the match and plan on investing the rest in a ROTH IRA. I'm not comfortable cutting 11% off our pre-tax income each month, so Tim and I have developed formulas we're comfortable with. Instead of over burdening our monthly budget, what we've decided to do is keep it lean and contribute what we can monthly but to put the majority of the emphasis on Tim's bonuses.
Goals for November:
* Cash in rewards points to start Christmas Shopping
* Create Christmas budget and STICK TO IT!
* Get back to blogging. Writing is my inspiration. I need a lot of that during the holiday season.
Goals for October:
* Keep grocery budget to $500! (This seems like it will be an on-going challenge)- I didn't make it under $500, but I'm getting closer. Last month was $519.75. This is the first time I've been below $550 in ages. While this is still an on-going challenge for me, I know it's not realistic with holiday cooking so I'll probably put it on hold until the new year.
* Review insurance records so I can catch up on all medical/dental payments and plan remaining treatments for the year. - DONE!
* Start Baby Step #4 and determine our plan of attack! - Tim has had numerous conversations with our financial advisor. We have our investments in order. He also restarted his 401(k). We're contributing up to the match and plan on investing the rest in a ROTH IRA. I'm not comfortable cutting 11% off our pre-tax income each month, so Tim and I have developed formulas we're comfortable with. Instead of over burdening our monthly budget, what we've decided to do is keep it lean and contribute what we can monthly but to put the majority of the emphasis on Tim's bonuses.
Goals for November:
* Cash in rewards points to start Christmas Shopping
* Create Christmas budget and STICK TO IT!
* Get back to blogging. Writing is my inspiration. I need a lot of that during the holiday season.
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