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Don’t Screw Future-You

Finance, Life

A conversation between me and my temporally displaced self.
Future Me: Excuse me, Jason?
Me: Yes?
FMe: <Slap!>
Me: May I ask what that was for?
FMe: Of course.
Me: What was that for, jerk?
FMe: That was payback for all of the hell you have put me through.
Me: What?!?  I’ve never even met you, before.
FMe: Of course you have.  I am future-you, and I’m sick of getting screwed by past-me, that is, you.
Me: Huh?
FMe: Listen close.  You’re not  the sharpest brick in the box and I don’t want to explain this twice.
Me: ???
FMe: A long time ago, when you first met our wife, you were dumb.
Me: I don’t appreciate….
FMe: Shut up.  I was dumb then, too.  Remember?  You…err…we bought a new truck, built an addition on our…err…your…err…whomever’s house, got married in the same year.  On top of many other expensive decisions.  Do your recall?
Me: Yes, I do.  So what?
FMe: If that wasn’t enough, you and your smoking-hot bride are still shopping like you’re rich. You drive a new car.  Your kids wear new clothes.  You’ve got a house full of new furniture.  How did you pay for all of that?
Me: Naturally, I charged it.  Zero payments, zero interest for a year!  Pretty smart, huh?
FMe: What happens in a year?
Me: I don’t know.  I’ve got a full year to figure that out.
FMe: <Slap!>  I’ll tell you what happens!  Future-you, that’s me, gets screwed!   Your raise didn’t come through.  You had a baby. The truck broke down.  Your wife took maternity leave.  A roommate moved out.  You took a loss in the stock market.  You didn’t plan!  You had no savings to cover any of those problems because you were too busy servicing debt to pay for your current life.
Me: How was I to know?
FMe: <Slap!>  Life happens!  You never know what is coming next.  You need to plan and save for what might happen.  Otherwise, you’ll just accumulate more debt to be serviced by yours-truly.  That is not acceptable.
Me:  So?  What are you going to do about it?
FMe: <Slap!>
Me: Really?  Again?
FMe: <Slap!>  I’m struggling to pay your debt. Your son starts college next year, but you’ve left me completely unable to help.  Your daughter wants to get married in a couple of years, but the Father-of-the-Bride can’t afford a tux.  My wife, your beatiful bride, wants a vacation that I can’t afford.   You’ve screwed me, dude.
Me: I’m sorry.  What can I do to fix it?
FMe: Buy me dinner, first.
Me: Huh?!?!?
FMe: Stop the excess spending. Spend less than you make, for a change.  No credit.
Me: None?
FMe: None.  Nada.  Zip.  Zilch.  Only spend what you can afford. Budget.  Pay off those nasty bills.  Don’t leave me hanging.
Me: So, what you’re saying is that, if I don’t have the money, I shouldn’t buy it?
FMe: Exactly.  That’s the path to wealth, freedom, and financial independence.  Live in the real world.
Me: Gee, thanks, Future-Me!  Now I know.
FMe: And knowing is half the battle.

What would your future-you have to say to you?

 

Letterboxing

Finance, Parenting

This week, I’ve been taking my kids letterboxing.

We go to a letterboxing site(either LBNA or Atlas Quest), choose a letterbox, then follow the clues.  When we find the letterbox, we stamp our letterbox journal with the stamp we find there and stamp the book we find with our stamp.

It’s similar to geocaching, but without a gps.

Even as a grown-up, I get a bit of a tingle when we uncover the prize.

One of the clues we followed yesterday was this one:

 To find this place, travel north with Hiawatha’s grandmother. She will bring you close to the spot. For the first part of the trip, the grandmother will become one with the number equal to the age of the oldest person Jerry Rubin trusted. On the north side of town, she will decide not to head toward the east, and she will become the Answer to the Ultimate Question of Life, the Universe, and Everything. Make the change with her, and right away you will find yourself to the west of a Holiday. On the right side of the road will be a brown sign pointing you to your destination. Leave the Grandmother to travel north without you, and follow the directions on this sign. You want to find the place where the City lets you Park (at least from 8 am to 9:30 pm). If you avoid the Dead Ends, you will find a parking lot. Leave your vehicle, and walk toward the water. If you turn toward the place where Henry meets Agnes, you will walk past the swimming area, and come to the numbers in triangles. Just past the 7s, 8s, and 10s, you will reach your destination, and find the place where Close only Counts. In the middle of this place, there will be a two-trunked tree. Standing with your back to this tree, and facing the lake, you will see three trees at the shoreline. Walk to these trees, and look under the leaves, under one of the roots sticking out of the ground near the right-hand tree. That is where you will find the letterbox.

Unfortunately, the letterbox had been stolen, and a wasp nest left in its place.   I’d never actually been attacked by wasps before.

Until yesterday.

Not recommended.

We found a different letterbox hidden behind a loose stone surrounding a fire pit in a public park.  Another was buried at the base of a tree a mile around a lake at a nature center near my house.  A third was hidden in a hollow tree stump near a major intersection near my house.

Each one has been a different adventure, and each one has made my kids smile.   Even the “I hate everything” 12 year old gets into it.  The 4 and 5 year olds are asking if we can plant a letterbox.

To get started, you need a notebook to record your adventures, a $2 ink pad, and a slightly unique rubber stamp.  That way, you can record your findings both in the letterbox and in the notebook you bring home.

For less than $10, you can get started, make some memories, and get some exercise.

Have you ever tried letterboxing or geocaching?

 

 

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Saturday Roundup – Happy New Year!

Misc

This week, my daycare provider has taken off to have surgery.   That means I have 10 days off in a row.  I haven’t done that since I was laid off at my last job, four years ago.  I’m really looking forward to the time with my brats.

Happy New Year!  Here’s hoping 2011 beats the pants off of 2010, no matter how 2010 went for you.

Best Posts

Free From Broke has a monster post with the best personal finance articles of the year.  If you need something to read….

Lifehacker posted about a service that will grade and critique your resume for free.  I’m not looking for a new job, but it looks like a great service.

Have you ever considered the similarities between hookers, doctors, and TSA agents?

Here’s an interesting analysis of the huge stimulus package that was supposed to revive the economy.  With all of the red tape and deadlines involved in getting the stimulus money, only projects that were going to happen anyway and already had permits and approval actually happened.   Private enterprise held off starting projects, hoping to get stimulus funding, only to find out they couldn’t possibly jump through the hoops in time, which is when they lost investors.   Huge fail with nothing accomplished beyond packing a ton of taxpayer money in a fat .gov bong and watching it go up in smoke.

LRN Timewarp

This is where I review the posts I wrote a year ago.

I wrote a post on the dangers of hypocrisy.   It’s a good post to re-read whenever I start feeling judgmental.

I also started my budget series.   Lesson 1 detailed my discretionary budget category.

Finally, I asked what you’ve done to improve your situation.  Every day, you can do something.  It may not be a big thing, but even small steps in the right direction will get you where you need to be.

Get More Out of Live Real, Now

There are so many ways you can read and interact with this site.

You can subscribe by RSS and get the posts in your favorite news reader.  I prefer Google Reader.

You can subscribe by email and get, not only the posts delivered to your inbox, but occasional giveaways and tidbits not available elsewhere.

You can ‘Like’ LRN on Facebook.   Facebook gets more use than Google.  It can’t hurt to see what you want where you want.

You can follow LRN on Twitter.   This comes with some nearly-instant interaction.

You can send me an email, telling me what you liked, what you didn’t like, or what you’d like to see more(or less) of.   I promise to reply to any email that isn’t purely spam.

That’s all for today.   Have a great weekend!

Totally Money Carnival #5, the Superbowl Edition

Misc

Welcome to the Totally Money Carnival #5, the Superbowl Edition.  It’s my privilege to be the first outside host for this carnival.

I don’t watch the Superbowl. I’ve never been into spectator sports unless I have some skin in the game. If I’m playing, or have some money riding on the outcome, I’m watching. Other than that, I’ll usually pass. Yesterday, a bunch of grown men in tights earning envy-inducing amounts of money ran around for a few hours in front of people, some of whom paid 5 figures for the privilege of watching. Yay!

Editor’s Picks

http://www.youtube.com/watch?v=hpjaOUjUPUc

Mike Piper presents Protecting Your Private Files posted at Oblivious Investor, “How can you keep your sensitive documents (scanned tax returns, for instance) both backed up and protected in the event of computer theft?”  Ed.  I love this solution, and I use it.  All of my tax returns, online receipts, and documents I don’t want to lose get treated this way.

Suzanne K. presents The Psychology of Why You Can’t Budget—And Five Tips to Help You Do It posted at PsychologyDegree.net.  Ed.  I’ve always been a fan of trying to understand what makes people tick.

Silicon Valley Blogger presents Prepare Your Tax Return: Tax Products vs Tax Pros posted at The Digerati Life, saying “If you don’t enjoy preparing your taxes, you’re not alone. There are various ways to get your tax returns done. How do you go about preparing your taxes: DIY or with the help of a pro?” Ed.  Tax time sucks.  If we abolished payroll deductions and made everybody in the country write a check to the IRS every year, there would be a revolt on the next April 15th.

Kevin McKee presents How To Know if Your Job is Expendable posted at Thousandaire, saying “When businesses start doing poorly, some people are at risk of losing their job, while others are safe. Find out which category you fall in with these simple questions.”  Ed: I was given a demonstration that defines expendability in the workplace. Fill a glass with water and place it on the counter in front of you. Stick your finger in the glass. Now, pull it out. See the impression you’ve made? I’ve done the rockstar bit, and I’ve been in positions that were necessary for the profitability of larger divisions of large companies. It doesn’t matter. Corporate loyalty is a joke.

Budgeting

35% of people who attend the game write it off as a corporate expense. (source)

Miss T presents 5 Ways to Lower Your Monthly Bills | Prairie EcoThrifter.com posted at Prairie Eco-Thrifter, saying “Believe it or not, there are lots of ways to save money, no matter how much of it you have- or don’t have.”

Credit

http://www.youtube.com/watch?v=jRYLhkOV2so

Tim Chen presents Pentagon Federal Offers Best Gas & Airfare Credit Card Rewards, Period. posted at NerdWallet Blog – Credit Card Watch, saying “There is only one credit card in America that offers no strings attached 5% cash back at any gas stations (excluding the likes of Costco) – the Pentagon Federal Platinum CashBack. It also gets you 2% back at grocery stores.”

Miranda presents Accelerate Your Credit Card Debt Pay Down posted at CreditScore.net, saying “Use these techniques to pay down your credit card debt faster.”

Buck Inspire presents Moving Up and On From Prepaid Debit Cards posted at Buck Inspire.

Ryan Hudson presents How I Got a Credit Card Late Fee Waived posted at Best Credit Cards IQ, saying “Don’t take accidental late fees laying down. Do something about it. Here’s how I got rid of my late fee.”

Debt

No network footage exists of Super Bowl I. It was taped over, supposedly for a soap opera.(source)

John presents Get Out of Debt Fast – How to Speed Up the Process posted at Passive Family Income, saying “There are quite a few people today that are beginning to dig their way out of debt. They have monitored their spending, created a budget, and have done the best that they can to stick with it. But, as many of you have experienced, the excitement of becoming debt-free gets pretty old after a while.”

Finance

http://www.youtube.com/watch?v=VRDx18GYITw

Mike Collins presents Defined Benefit vs Defined Contribution posted at Saving Money Today, saying “Understanding the different types of retirement plans.”

Boomer presents 10 Ways For Women To Obtain Financial Empowerment posted at Boomer & Echo, “It’s not that difficult to get your financial life under control (your control). Remember, a man is not a financial plan.”

Frugality

The Super Bowl is measured in Roman numerals because a football season runs the span over two calendar years. This year the season began in 2010 and ends in 2011. (source)

Madison DuPaix presents Substitute, Improvise, and Make Do With What You Have posted at My Dollar Plan, saying “So often, when we run out of things we need, we run to buy something or spend money when we don’t have to. Find out how you can avoid this trap.”

Money Beagle presents The Power Of The Free Calendar posted at Money Beagle.

Amanda L Grossman presents Homemade Diversion Safes: Save Money by Making Your Own posted at Frugal Confessions – Frugal Living, saying “You can purchase your own home security money safes (diversion safes), but I thought it would be more frugal and fun to think of ones to make on your own. See what I can do with a used deodorant!”

Money Management

http://www.youtube.com/watch?v=KQkK1UCH1EU

MoneyNing presents What Would You Do with a Million Dollars? posted at Money Ning, saying “I know what I would do with a million dollars. How about you?”

Other

More drivers are involved in alcohol-related accidents on Super Bowl Sunday than any other day of the year (except St. Patrick’s Day), according to the Insurance Information Institute. (source)

Joe Morgan presents Is Gen Y Irresponsible, Or Is It A Matter Of Perspective? posted at Simple Debt-Free Finance, saying “Generation Y has a reputation for having a sense of entitlement, but here’s one reason it may just be a matter or perspective.”

Saving

http://www.youtube.com/watch?v=_78ylMLa0JQ

Ryan @ MFN presents Roth IRA Qualifications posted at The Military Wallet, saying “Are you qualified to open a Roth IRA? Find out income and contribution requirements to see if you are eligible!”

Brian @ BeBetterNow presents Money’s Golden Rule: Spend Less Than You Earn posted at Be Better Now, “In the end, most personal finance advice boils down to spending less than you earn. Here’s another article to reinforce that.”

Spending

http://www.youtube.com/watch?v=g364TG_8Qmw

Barb Friedberg presents Wealth in Life: 25 Cheap Ideas for Fun posted at Barbara Friedberg Personal Finance, “Join in to build a massive list of low cost fun!”

Taxes

http://www.youtube.com/watch?v=R55e-uHQna0

PT presents Tax on Unemployment Compensation posted at PT Money, saying “A detailed look at what taxes are due on your unemployment compensation.”

Ken presents Important Tax Update for 2010 You Don’t Want To Miss posted at Spruce Up Your Finances, saying “A few of the tax provisions applicable to tax year 2010 such as the extension of tax filing date, expanded tax benefits, phase out on some limitations, etc.”

Fanny presents Top 10 Tax Deductions for Parents posted at Living Richly on a Budget, “Being a parent is one of the most important roles in life. Why not take advantage of all the deductions you qualify for?”

Thank you all for participating!  Next week’s host is Saving Money Today, so be sure to submit your posts.

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Megan Fox’s Little One: The First Year Costs of Having a Baby

Celebrities, Gossip

Megan Fox @ Jennifer's Body screening
Megan Fox @ Jennifer’s Body screening (Photo credit: Wikipedia)

If you can’t get enough of Megan Fox like everybody else, you probably already know that paparazzi has spotted her with a new and conspicuous belly bump. The steamy star already gave birth to a beautiful baby boy named Noah in 2012, but she also expressed a desire to have more children in the future. We just didn’t think that it would happen this soon. Luckily, Megan is blessed with celebrity wealth, so funding another newborn shouldn’t be too much of a problem. Unfortunately, most new mothers aren’t celebs. If you are a new or expecting mother, prepare yourself for your bundle of joy by familiarizing yourself with first year expenses and ways to save money.

What are the first year costs of caring for a baby?

Babies are expensive. How expensive, you ask? Well, that depends on your standard of living. It’s a pretty good bet that Megan Fox will dish out more dough on her newborn than most people have the ability to. Baby Gucci just isn’t on the shopping list for mothers who live from paycheck to paycheck. However, the essentials are already expensive enough to make most moms have a panic attack. A 2010 USDA report suggests that a typical American family spends about $12,000 during the first year on a baby. These days, that number is probably closer to $15,000.

What will most of the money go towards?

There are two major items that are an absolute must for a baby: formula/baby food and diapers. Expect to shell out about $50 per week on these things alone. That’s nearly $2,500 per year. Another big portion of your baby expenses will comprise of pricier one-time purchases including a baby stroller, crib, car seat, etc. The rest of the funds will likely go to baby clothes, childcare, and medical expenses.

How can I save money?

There are countless ways to cut the costs of having a baby, but you need to get creative to maximize your savings. If you want to have a fatter wallet at the end of that first year, here are some of the easiest and most effective ways to do so.

Take free samples during the initial hospital stay

Many baby product manufacturers supply maternity wards with free samples, but nurses sometimes forget to hand them out. Remember to ask about these samples after giving birth, and bring home as much as they will allow. You can snag useful items like: diapers, diaper bags, baby lotion, swaddling cloths, disposable bottle nipples, alcohol swabs, a thermometer, a nasal aspirator and more.

Breastfeed

A mother’s milk is the healthiest food option for a growing baby because it contains nutrients not found in many baby formulas. Since formula can be very expensive, you will save a ton of money and give your child the best nutrition possible by breastfeeding.

Get oversized baby clothes or use hand-me-downs

Babies grow at an amazingly fast rate, so always buy clothes of a bigger size. If you have close friends or family members who’ve already had a child, ask if you can use their old baby clothes.

Buy diapers, formula, and other commonly used supplies in bulk

Like with most consumer goods, you will pay less if you buy more. Stock up on the essentials early on if you don’t want to waste your money in the long run.

 

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20 Lazy Ways to Save Money

Finance

Image by Paul Vivier via Flickr

Investopedia ran a post on 20 lazy ways to save money.  I thought it was worth sharing my take on the post.

1.  Schedule automatic payments. I do this obsessively.   I run all of my regular payments through my bank’s online bill-pay.  I think there are 2 bills that get paid manually; 1 is a quarterly payment, the other is due annually.

2.  Eat your groceries. According to the post, Americans–on average–throw away 15% of the groceries they buy.   I totally believe that.  We don’t throw away that much, but it’s still too much.  It tends to be the fresh vegetables, which we eat as side dishes instead of the main course.   We need to switch that mindset, both to use the vegetable efficiently and to eat healthier.

3.  Bundle services. I refuse.  I hate the idea of having a single point of failure for multiple systems.  If the power goes out, I lose my cable, but I keep the phone.   If, for some reason, I can’t pay my phone bill, I don’t lose my internet connection.   I like keeping these things separated.

4.  Pay off credit card. Hardly a lazy process, but otherwise…duh!

5. Mark your calendar. I use my Google Calendar as obsessively as I use automatic payments.  I put in reminders, grocery lists, or anything else I need to know at a specific time.

6. File your taxes on time. I just helped a friend dig out of this mess.   I pay as soon as all of my paperwork is delivered.   The IRS doesn’t give up and they have leverage, including garnishment and even jail.

7. Roll it over. When you change jobs, take your 401k with you.  Don’t leave it behind like a series of red-headed stepchildren.   It’s too easy to lose track of the accounts.   Don’t cash it out!  I made that mistake once and lost far too much to taxes.  A rollover doesn’t count against your 401k contribution limits.

8. Switch credit cards. If you can a good balance transfer offer that’s followed by a better interest rate than you currently have, use it.  But don’t forget to pay attention to the transfer fees.  Do the math.  If it costs you $500 to transfer the money, how much interest do you have to save to make it worthwhile?

9. Use your privileges. If you have a AAA membership, use it.  It gives you a discount on hotels, oil changes, car rentals, and more.   Read the paperwork. Former military gets a ton of random discounts, too.  Ask.

10. Rent instead of buy. Renting can save you money over buying, if it’s something you’ll only use once, but borrowing is free.

11. Buy instead of rent.  Rent-a-center is a ripoff, but they can’t even legally operate here.  If you’re going to use something regularly, buy it.

12. Ask. I love to call up every company I give money to and ask if there’s a way I can give them less.   Outside of chain stores and restaurants I almost always ask for a lower price.

13. Just say no. Extended warranties are generally a waste of money.   However, if I can’t afford to replace the item, I do get the warranty.  On my car, I brought it in for a full inspection and repair a few weeks before the warranty ran out and made all of that money back.    We are slowly building a warranty fund to replace the need for any future extended warranties.

14. Have the awkward conversation. We tried giving gift-giving the axe, but nobody enjoyed that.  Now, we cap the gifts at $20 and do a round-robin type of gift.  $40 for gifts keeps 10 adults happy.

15. Eat at home. Generally, I can cook almost anything better at home, but I really do enjoy eating out and trying new restaurants.  We just keep it from being a regular expense.

16. Balance your checkbook. What a waste of time!    With automatic payments and cash for all of the discretionary budget items, I balance the checkbook once a month.

17. Stick with your bank. Either use your own bank’s ATM network, or use a bank that refunds ATM fees.  I only take out cash on the first of the month, for the entire month and I do that with a teller, so this is never an issue for us.

18. Use your TV. Cable movie packages instead of a video membership?  Really?  That’s a horrible idea.

19. Quit those bad habits. I quite smoking, saving $200 a month.  I don’t drink much and I’m working on fixing my eating habits.   Vices are fun, and this is certainly not a fun way to save money.

20. Forget the pet. There is no way this would fly at my house.  we have 5 cats, 2 gerbils, and a dog.   Our renter has 2 pythons.  We’re a flippin’ zoo and honestly, mess and cost aside, we all like it that way.

How do you stand on these ideas?