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Is It Time For a New Car?

Finance

So far this summer, we’ve sold a 1984 Cadillac, a 1994 Mercury Sable, and a 1976 Lincoln Continental.

Chevrolet Traverse (Photo credit: .imelda)

That’s most of the vehicles we inherited in April.

Now, we’ve got a 2005 Chrysler Pacifica, a 2001 Ford F150, a 2009 Dodge Caliber, and a 1986 Honda Shadow.

According to Kelly Blue Book, the Caliber has a resale value of $10,065 and a trade-in value of $8470.

The F150 is worth $6,418/4,923.

The Pacifica is worth $7,738/$6,093.

The bike is worth about $1,500.

We own all of them, free and clear, right now.

With our current situation, the F150 and the Caliber aren’t working. We have 3 kids. The oldest is 12 and pushing 6 feet tall. He barely fits in the backseat of either and is forced to wedge himself against a car seat if we take either of these vehicles anywhere. Even the front seats don’t have a lot of leg room, and I’m not exactly short or small.

We are also a popular place to hang out and almost always have an extra kid or two on the weekends. Right now, that means we take two cars if we have to go somewhere.

On top of that, my girls ride in a saddle club on borrowed horses. We are planning to buy a horse trailer and (shudder) lease a couple of ponies next summer.

So, our requirements are:

Seat 7-8 people
Full-sized 3rd row
Towing capacity of at least 5000 pounds
More than 20mpg highway
Comfortable front seat

Based on our initial research, the Chevy Traverse meets our needs. Depending on the configuration, it seats 7 or 8 people with a full-sized 3rd row, has a 5200 pound towing capacity, and is rated for 24 mpg on the highway. Locally, there is a 2010 model with 50,000 miles for $19,000, which is dead-on with blue book. For another $1500, we can make it all wheel drive and 2011, which is below blue book. Consumer reports rates it pretty high, but Edmunds has some mixed reviews.

We should be able to sell the F150 and the Caliber for $12-13,000. That only leaves about $6,000 left, which we should have after the remodel on our rental property. I’m almost positive we’ll pull the trigger on a new car in the next month or two.

What do you think? Am I missing anything? Any experience with a Traverse? Have a better idea for something that meets our needs? Please leave a comment and help me out.

What I’ve been up to….

Business

Posting has been scarce lately.

But there’s a reason.

This morning, I released a bit of software for sale and I’ve got more coming in the next couple of weeks.

What does the software do?

It’s a WordPress plugin that let’s you bulk upload & schedule Word documents as posts. You can upload 50 Word docs and get 50 posts scheduled to run once a week. It takes about 10 minutes to make that happen. It handles the category, author, and posting time for you.

Why?

I build niche sites. When I do, I usually hire out most of the writing. It’s a pain in the butt to get handed 50 or a 100 articles to convert, post, and schedule. So I solved that problem.

It’s called Word Poster. You can get the details here. I figure that this thing saves me at least an hour of work for every 10 articles I buy.

At $27, that pays for itself in an hour or two.

New Year Goals

Misc

I’m not a fan of New Year’s Resolutions. They are generally drunken promises made on December 31st that are broken by the middle of January, if they are remembered at all. I don’t make resolutions.

My goal for 2010 is to complete one major self-improvement project each month. That’s an entire year of 30-day projects. As each month goes on, I will be updating this blog with the status of each project. Some of the projects will be physical, some will be mental, some will be improvements on my relationships. My goal is to do something meaningful, useful and challenging each month.

Here’s my list:

January: Wake up at 5am AND read to my kids every night before bed.
February: Do 100 push-ups at one time by the end of the month. There is also a secret project this month. I’ll be keeping notes and posting in March.
March: Do 100 sit-ups at one time by the end of the month.
April: Spring Cleaning. I will declutter every room in my house this month.
May: Have a sit-down dinner with my family, at the dining room table at least 3 times per week.
June: No computer use, while anyone else in the family is awake, except for household necessities, such as bills.
July: Write fiction every day.
August: Buy nothing new this month.
September: Attempt to learn a new language. http://ijaar.com/29-free-websites-to-learn-a-new-language/
October: No yelling at the kids.
November: No complaining. Not at home, not at work.
December: I will have done 14 projects this year. December is a month off.

Cheap Lo Mein

Recipe

: Image via Wikipedia

I’ve never been a fan of making Chinese food. It always seems to involve ingredients I don’t stock and several hours of prep work. It’s not usually worth the hassle. Several months ago, I began to notice that, when we went out for Chinese, all of my kids had the same favorite dish: lo mein. It would be nice to be able to have the dish without having to pay restaurant prices, so I did some research and came up with a quick, easy, and cheap recipe for lo mein. It takes 3 dishes and 20 minutes.

Lo mein has 3 components: noodles, sauce, and the rest.

Noodles

I use spaghetti noodles. I leave them a bit al dente, because they will spend some time in the hot lo mein sauce, which will cook them a bit more. 1 box of noodles is enough for two meals for my family of 5.

Sauce

Chicken broth, 4 cups
Rice wine vinegar, 2 tablespoons
Sesame oil, 2 tablespoons
Red pepper flakes to taste, about 1 teaspoon
Soy sauce, 1/4 cup
Sugar, 1 teaspoon

Mix it all in a bowl, then wisk until the sugar is dissolved. Nuke until hot. I do this while the wok is heating up and the noodles are cooking, so the pepper flavor has a better chance to blend with the liquid.

The Rest

Sesame oil
Minced garlic
1 Onion, cut to whatever size you like
Protein, chopped
Vegetables, chopped
Ginger powder, to taste

Chop everything first. When you start cooking, you will be busy cooking, not prepping.

Get the pan hot. Splash in some oil, then toss in the meat when the oil is hot. I usually use chicken, but any meat you like–or even no meat at all–will work.

When the meat is almost completely cooked, add the onions and ginger. Stir constantly.

When the onions are barely translucent, start adding the vegetables, in the order they will take to cook. You can use any vegetable you want. Broccoli, carrots, and peas work well. Whenever the grocery store has a sale on stir-fry vegetable packs, we stock up for about $2/bag. Just defrost ’em before you start cooking, so it’s possible to chop them up, and they work great. Otherwise, any vegetables you have on hand will work. Add them, and stir constantly.

At some point, toss in a spoonful of minced garlic. When depends on how much garlic you want to taste. The earlier you add it, the tamer the flavor.

When it’s all cooked, spoon in some lo mein sauce and toss to coat. Remove from heat.

Serve

Spoon the rest of the sauce over the noodles and toss. You will have extra sauce, so don’t add it all at once. You want the noodles coated, not floating.

Combine the noodles with the stir-fry and serve.

If you buy the noodles, vegetables, and meat on sale, this meal costs about $10 to make. Like I said, that’s two complete meals for 5 people, 3 of whom have adult appetites. The rice wine vinegar and sesame oil aren’t cheap, but you don’t use much, so the cost per meal is negligible.

Net Worth Update

Misc

Now that my taxes are done and paid for, I thought it would be nice to update my net worth.

In January, I had:

Assets

House: $252,900
Cars: $20,789
Checking accounts: $3,220
Savings accounts: $6,254
CDs: $1,105
IRAs: $12,001
Investment Accounts: $1,155
Total: $297,424

Liabilities

Mortgage: $29,982
Credit card: $18,725
Total: $48,707

Overall: $249,717.00

Here is my current status:

Assets

House: $240,100 (-12,800) Estimated market value according to the county tax assessor. This will be going down in a few months when the estimates are finalized for the year. I don’t care much about this number. We’re not moving any time soon, so the lower the value, the lower the tax assessment.
Cars: $15,857 (-4,932) Kelly Blue Book suggested retail value for both of our vehicles and my motorcycle.
Checking accounts: $4,817 (+1,597) I have accounts spread across three banks. I don’t keep much operating cash here, so this fluctuates based on how far away my next paycheck is.
Savings accounts: $6,418 (+164) I have savings accounts spread across a few banks. This does not include my kids’ accounts, even though they are in my name. This includes every savings goal I have at the moment. I swept a chunk of this into an IRA to lower my tax bill, which is also why my IRA balance is up as much as it is.
CDs: $1,107 (+2) I consider this a part of my emergency fund.
IRAs: $16,398 (+4,397) I have finally started to contribute automatically. It’s only $200 at the moment, but it’s something.
Investment Accounts: $308 (-847) I pulled most of this out and threw it at a credit card.
Total: $285,005 (-12,419)

Liabilities

Mortgage: $28,162 (-1,820)
Credit card: $16,038 (-2,687) This is the current target of my debt snowball. This has actually grown a bit over the last week. I did a balance transfer that cost $400, but it gives me 0% for a year, versus the 9% I was paying. That will pay for itself in 3 months, while simplifying my payments a bit and saving me almost a thousand dollars in payments this year.
Total: $44,200 (-4,507)

Overall: $240,805 (-8,912)

Well, I lost some net worth over the last quarter, but it’s still a good report. If I disregard the change in value of my house and cars–two thing I have no control over–my overall total would have gone up almost $9,000.

All in all, it’s been a good year for me, so far, though paying off that credit card by fall is going to be a challenge.

Emergency Fund Goodness, Reasons #491,207 and #491,208

Finance, Life

When you run a big company that handles a lot of one-year renewable contracts with the government at every level from city to federal, you tend to expect that you’ll need to do some legwork on the contract renewals before they expire. Preferably, you’d do this a few weeks before they expire so the bureaucratic mess that is the federal government can process the renewal on their end.

That’s a reasonable expectation after 30 years in the industry.

If, instead, you wait until the expiration date on the contract to submit the renewal to the federal agency in question, you’ll have a department to shut down for a week due to lack of work.

Then, at the end of that week, you’ll be reminded that the wheels of the federal government grind. very. slow.

So slow, in fact, that the department in question gets to stay shut down for at least another 2 weeks.

If you haven’t been doing the math, that is a surprise, unpaid, three-week vacation for my wife.

Our emergency fund hasn’t grown to the size that can handle this, but it is enough to take the edge off for a couple of weeks. Yay!

We’d already decided that we would be skipping a vacation this year, to give us more time to deal with my mother-in-law’s estate and hoarding remnants, so the vacation fund will be tapped. That should cover the rest, assuming her job does come back.

That’s part 1.

Part 2 is the story of a cat whose butt exploded on our bed at 1AM last week.

Poo–the cat named for her coloration–has been acting funny. She’d suddenly sprint in a circle around the room, then poop on the floor. Irritating.

One night, her sprint crossed our bed, so my wife pinned her down, hoping to break the cycle.

The cat screamed, then sprayed blood from her butt all over the pillows, blankets, sheets, and my wife.

That’s called a midnight visit to the emergency vet.

See, cats have anal glands that they use to sign their work when they are marking their territory. Sometimes, these glands get infected. Sometimes, the infection gets so bad the glands kind of…explode.

On my bed.

While I’m sleeping.

Pop.

Fixing that involves sedation, an ice cream scoop, and a sewing kit. Or something. I wasn’t really pushing for details when my wife called from the vet’s office.

For those of you who’ve never had a cat’s butt explode in your bed at one in the morning (and if you have, I’m not sure I want to hear the story), the emergency vet isn’t cheap. This visit cost us $500. It probably would have been half of that if we would have waited until the regular vet opened, but…ewww.

We’ll be starting our emergency fund from about 0 in the next few weeks, but it beats going in to debt over a couple of setbacks.

How’s your emergency fund? Is it enough to carry you through any unexpected setback?

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Noodles

Sauce

The Rest

Serve

Assets

Liabilities

Here is my current status:

Assets

Liabilities