LRN got hacked this morning. Thankfully, I backup weekly and subscribe to my own RSS feed. 20 minutes to total restoration.
Twitter Weekly Updates for 2010-02-27
- I tried to avoid it. I really did, but I’m still getting a much bigger refund than anticipated. #
- Did 100 pushups this morning–in 1 set. New goal: Perfect form by the end of the month. #
- RT @BudgetsAreSexy: Carnival of Personal Finance is live 🙂 DOLLAR DOODLE theme: http://tinyurl.com/ykldt7q (haha…) #
- Hosting my first carnival tomorrow. Up too late tonight. #
- Woot! My boy won his wreslting match! Proud daddy. #
- The Get Home Card is a prepaid emergency transportation card. http://su.pr/329U6L #
- Real hourly wage calculator. http://su.pr/1jV4W6 #
- Took my envelope budget out in cash, including a stack of $2s. That shouldn’t fluster the bank teller. #
My Credit Cards
This announcement is a bit premature, but not everything that’s premature has to end in an evening of disappointment.
At the beginning of the year, I transferred the balance of my last credit card onto two different cards, each with a 0% interest rate. One card got a $4,000 transfer and the other got $13,850. The approximately $415 in fees I paid for the transfer saved me nearly $1500 in interest this year.
The card that got the big balance is the card we use for a lot of our daily spending. On my statement dated 2/18/2012, the balance on the this card was $14,865.23. At the same time, the smaller card had a balance of $3,925.09, for a total of $18,790.32. When I started my debt-murder journey in April 2009, it had peaked at just under $30,000.
When my payments clear later today, that balance will be gone.
That is nearly $19,000 paid down in 8 months.
Now, the inheritance we picked up did accelerate our repayment a bit, but only by a few months.
Starting from $90,394.70 in April 2009, we have paid down $63,746.70, leaving $26,648.00 on our mortgage.
I’m more than a little excited, which–as usual–is the cause for the prematurity.
New goal: pay off the mortgage in 2013.
Sammy’s Story, Part 3
If you haven’t been following along with Sammy’s story, please take a few minutes to do so here and here.
After Sammy gave me the sketches of his landscaping plan for my mother-in-law’s yard, we sat down to work out a proposal. Keep in mind that he’s never run a business and I’ve never run a landscaping business, so it was a bit of a learning experience for both of us.
We finally came up with a proposal for $1200, which included laying a plastic border around the yard, mulching the border, removing some trees and stumps, sanding and painting a swing and barbecue pit, and hard-raking the yard. He asked if $400 of that could be applied to the car he bought from us. I said yes, which was a mistake.
Sammy’s plan was to hire guys from the Salvation Army and at-risk kids, giving them a chance to improve their situations. As it turns out, a significant percentage of those folks don’t really want to work to improve their situations. The guys from the Salvation Army were all vetted by one of the counselors, but still only worked out about half of the time. The kids quit wanting to work when they found out it involved…work.
That was an expensive lesson that caused a bit of a cost overrun. If the crew that finished the job would have started it, we’d have been done weeks ago. What should have taken 3-4 days ended up taking a month. Not a 40-hour per week month, but it was still a month.
As we came closer to our garage sale, Sammy had the great idea to tackle the front yard, too. He wanted to make it pretty as an advertisement for the people coming to the sale. That inflated the cost.
We used the stacks of bricks that came with the house for the border instead of the plastic roll. Another price boost, since it involved digging deeper and laying freaking bricks.
The plan was for us to pay $800 out-of-pocket for the work, plus $3-400 in tools and equipment to help launch the business, plus materials. We ended up paying a bit under $3000 for everything. Between the labor problems and an expanding project, the price got a bit higher than either of us had anticipated.
At least the yard looks nice.
Stand Up For Yourself
Monday night, my son was struggling to get all of his homework done before bed. He had a 6 page packet of work from his advanced math class that he was supposed to have done over the weekend.
When I asked him why he hadn’t done it, he told me he forgot about it.
I wasn’t happy.
We’ve had a lot of conversations about responsibility and planning over the years. He knows better.
Cue Dad Lecture #26.
Towards the end, when I’m building up this rocking crescendo about how what he does now will affect him for the rest of his life, I stopped.
“Buddy, weren’t you sick on Friday?”
He didn’t get his weekend homework until Monday. Of course he didn’t do it over the weekend.
Dad Lecture #26 immediately transitioned to Ad Hoc Lecture #4, titled “Why did you let me chew you out for something you didn’t do?”
I’ve always tried to raise my kids to be independent. I’ve never stifled asking questions, and I am willing to explain my decisions to them, even if they don’t stand a chance of winning the appeal. As frustrating as independent, strong-willed children can be, I know it will serve them well as adults.
Now I’m trying to figure out why that fell apart on Monday. I wasn’t yelling at him and he doesn’t think I was. Sometimes, the perception of who’s yelling differs depending on which side of my loud voice you are on.
He doesn’t know why he sat back at took the lecture instead of explaining what happened. He apparently forgot that he was given that homework just a few hours before.
My question to all of you is how can I make my kid behave and obey when necessary, but still have enough backbone to stand up for himself when he’s not wrong? And know when each is necessary.
Lou Reed’s Influence – More Artistic than Financial
On October 27th, 2013, Lou Reed passed away in his Long Island home at the age of 71. A rock and roll pioneer who shaped the American pop culture landscape, Reed was known for his work with both The Velvet
Underground and his solo work. His biggest hit as a solo artist was 1972’s “Walk on the Wild Side,” hailed as a classic by critics and industry veterans.
Reed’s achievements as an artist had less to do with financial or commercial triumphs and far more to do with daring and trailblazing artistry. His most recent work was New Age ambient music, a grand departure from his earlier rock sound. His New Age meditation album, “Hudson River Wind Meditations,” was overlooked by critics but popular with fans of the genre. His final album was 2011’s “Lulu,” a progressive collaborative effort with Metallica. The album was comprised mostly of spoken word.
Reed could have continued to find commercial success and grow his brand and wallet had he continued to create the rock and roll sound that many of his fans desired. However, Reed was nothing if not a rebel, unwilling to bend to the requests of even his most die-hard fans. Ultimately, his passion was to create the sound that he wanted to create – not the sound that others wished he would create.
The lesson that we can all take from the life of Lou Reed is a simple one: While making decisions based on financial and professional factors is undoubtedly important, there is certainly something to be said for throwing caution to the wind and finding one’s bliss. While we all might not be able to eschew doing what we need to do in favor of what we want to do, we could all stand to take some time to do what makes us truly happy and find our bliss. Reed is nothing if not an inspiration for chasing your passion no matter what your critics say.
