Thanks to Single Ma at Fabulous Financials for referencing this Washington Post article about the high cost of being poor.
I live in a transitioning urban neighborhood that has traditionally been home to a majority of African American residents. Over the 16 years I've lived here, it has become increasingly trendy. That means we finally got a supermarket--two of them, in fact. But for years, the only grocery stores within walking distance were small and expensive neighborhood operations. The housing stock is old--great for yuppie rehabbers, but less satisfactory for families who have lived here since their homes were built in the 1930's and '40's. We have the second highest crime rate in our city, recently edged out of first place by a low-income white neighborhood on the other side of town. Our insurance rates reflect this.
Professionally, I work with and for poor people. For all my whining about my finances, I am grateful NOT to be in their shoes. I DO have a washer and dryer. I DO have the funds to replace my ten-year-old van when it finally dies. I DO have a bank account--more than one, in fact, so there's no charge to cash my checks.
Recently, a friend griped to me about all the "benefits" a "welfare mom" gets. He started off with subsidized housing. I responded that in our city, less than 12% of the poor have subsidized housing. The rest pay market rates for what are often substandard apartments--the kind of places that don't ask questions about prior evictions or require that the family make 3 times the rent each month. He was surprised to find that food stamps are based on a PERCENTAGE of what a single person or family needs to feed themselves for a month, and that the percentage is NOT 100%.
As the Washington Post article says, "You have to be rich to be poor."
Tuesday, June 16, 2009
Friday, June 12, 2009
Loving My Kitchen
My (rich) sister's Christmas gift to me was a complete interior repainting of my house. The entire residence looks 100% better, but nowhere did the paint make a bigger difference than in my kitchen.
Keep in mind that my kitchen had blue plaid wallpaper which was coming off the walls. I'm not sure that the wallpaper could ever have looked good, even when new. But it was especially unattractive as it peeled. Now that the wallpaper is gone, and the walls are sage green, one can safely cook in my kitchen without wanting to throw up. (There will be no cracks about my cooking--I'm talking about walls, here!)
The kitchen also came with fake oak veneer cabinets. Amazingly, these look a lot better now that they are painted white and the wooden knobs have been changed out for ones made of brushed nickle.
I'm happy with the new look.
But I'm getting a little tired of folks who keep asking if I was going to have granite counters and stainless steel appliances installed.
Umm--NO!
I wouldn't have granite counters put in even if I could afford them, which I can't.
In fact, I don't get the attraction of granite at all. It's expensive; it's heavy; it's easily stained unless properly sealed; it requires maintenance that I'm unlikely to do; dishes break when dropped on it (something klutzy Grace does all too often); it dulls knives if you cut on it; and it can crack if stressed.
My counters are formica and they work just fine. If I felt I needed new counters, I'd likely get more formica, though perhaps in a different color or pattern.
My real point here is that if granite really isn't optimal in a kitchen, why are all the "in" remodelers and designers using it? Why are people paying a premium for homes that have it?
I feel the same way about stainless steel appliances. Why get something that is a magnet for scratches and fingerprints, requires significantly more expense and maintainance and doesn't work any better than a regular appliance? (Oh, and speaking of magnets, WON'T allow you to stick one's treasured magnets on the front of it!)
Isn't it all a bit precious and silly to pay extra for items of decor that don't enhance the function of the room or the activities that take place there?
Or am I just being cheap?
Keep in mind that my kitchen had blue plaid wallpaper which was coming off the walls. I'm not sure that the wallpaper could ever have looked good, even when new. But it was especially unattractive as it peeled. Now that the wallpaper is gone, and the walls are sage green, one can safely cook in my kitchen without wanting to throw up. (There will be no cracks about my cooking--I'm talking about walls, here!)
The kitchen also came with fake oak veneer cabinets. Amazingly, these look a lot better now that they are painted white and the wooden knobs have been changed out for ones made of brushed nickle.
I'm happy with the new look.
But I'm getting a little tired of folks who keep asking if I was going to have granite counters and stainless steel appliances installed.
Umm--NO!
I wouldn't have granite counters put in even if I could afford them, which I can't.
In fact, I don't get the attraction of granite at all. It's expensive; it's heavy; it's easily stained unless properly sealed; it requires maintenance that I'm unlikely to do; dishes break when dropped on it (something klutzy Grace does all too often); it dulls knives if you cut on it; and it can crack if stressed.
My counters are formica and they work just fine. If I felt I needed new counters, I'd likely get more formica, though perhaps in a different color or pattern.
My real point here is that if granite really isn't optimal in a kitchen, why are all the "in" remodelers and designers using it? Why are people paying a premium for homes that have it?
I feel the same way about stainless steel appliances. Why get something that is a magnet for scratches and fingerprints, requires significantly more expense and maintainance and doesn't work any better than a regular appliance? (Oh, and speaking of magnets, WON'T allow you to stick one's treasured magnets on the front of it!)
Isn't it all a bit precious and silly to pay extra for items of decor that don't enhance the function of the room or the activities that take place there?
Or am I just being cheap?
Sunday, June 7, 2009
The Not-So-Financially Grown-Up Kids
While I'm not certain that Jung got it right about Synchronicity, there are still plenty of examples in daily life. Witness my thoughts about giving money to my children, which coincided with a "Ask Amy's" column in Today's Washington Post and a new entry on World of Wealth. [You may have to register to get on the Washington Post site, but registration is free.]
Amy's inquirer and Meg's family are at opposite ends of the issue. How do you handle it when you don't have the money to keep on giving the way you used to, or how do you make decisions about giving the money, when you do have it. Meg, of course, has the "problem" of how to graciously accept the gifts--we should all have her issues!
I note that many of the personal finance bloggers and those who comment on the blogs either have no adult children or have no children at all. Frankly this makes it easier for them to stand back and insist that one's adult children "stand on their own two feet." I will be interested to see how it works out for them as they do have families, and their children become adults. Given that many of us took to baring our financial souls on the internet because we were not exactly role models when it came to our own finances, will we be surprised if our kids aren't all that good at it either?
I've never had large sums to give to any of my daughters, but like the parents who wrote Amy for advice, my children do expect me to cover meals out, to help them with payments here and there when they run into trouble, to cover tuition and books for college (fortunately, my granddaughter is using the local community college for her higher education), and generally to "be there" for them financially. I don't think any of them has a clear idea of what I make or what my expenses are.
I have two conflicting mindsets about all of this. On one hand, I adopted children who were damaged, both emotionally and organically. I knew it was unlikely they would ever achieve my level of education or income. So helping them out has been built in to my parenting, and that did not end when they became adults and left home. On the other hand, we all have to be realistic. I cannot afford to support five families. I have to prioritize what I'm willing to give my children, and I do make an effort to equalize the monies that I give out.
I estimate that, on average, I spend about $600 a month on my children and grandchildren. Not all of that is spent in any given month, but I spend more than that three times a year when my granddaughter's college tuition comes due. So, $600 a month on average. That is money that could go a long way toward reducing my credit card debt.
I have not completely worked out how I feel about this expense. Right now, I include it in my budget. And right now, it is all financially doable. But I wonder how it will play out if/when I find myself in the position of Amy's letter-writer.
Amy's inquirer and Meg's family are at opposite ends of the issue. How do you handle it when you don't have the money to keep on giving the way you used to, or how do you make decisions about giving the money, when you do have it. Meg, of course, has the "problem" of how to graciously accept the gifts--we should all have her issues!
I note that many of the personal finance bloggers and those who comment on the blogs either have no adult children or have no children at all. Frankly this makes it easier for them to stand back and insist that one's adult children "stand on their own two feet." I will be interested to see how it works out for them as they do have families, and their children become adults. Given that many of us took to baring our financial souls on the internet because we were not exactly role models when it came to our own finances, will we be surprised if our kids aren't all that good at it either?
I've never had large sums to give to any of my daughters, but like the parents who wrote Amy for advice, my children do expect me to cover meals out, to help them with payments here and there when they run into trouble, to cover tuition and books for college (fortunately, my granddaughter is using the local community college for her higher education), and generally to "be there" for them financially. I don't think any of them has a clear idea of what I make or what my expenses are.
I have two conflicting mindsets about all of this. On one hand, I adopted children who were damaged, both emotionally and organically. I knew it was unlikely they would ever achieve my level of education or income. So helping them out has been built in to my parenting, and that did not end when they became adults and left home. On the other hand, we all have to be realistic. I cannot afford to support five families. I have to prioritize what I'm willing to give my children, and I do make an effort to equalize the monies that I give out.
I estimate that, on average, I spend about $600 a month on my children and grandchildren. Not all of that is spent in any given month, but I spend more than that three times a year when my granddaughter's college tuition comes due. So, $600 a month on average. That is money that could go a long way toward reducing my credit card debt.
I have not completely worked out how I feel about this expense. Right now, I include it in my budget. And right now, it is all financially doable. But I wonder how it will play out if/when I find myself in the position of Amy's letter-writer.
Thursday, June 4, 2009
Attitude
BlueBird, over at Hedonic Adjustment posed an interesting question in his Tuesday post.
Bluebird asks his question in the context of union employees, but I think it is a fine question to ask generally: Why is the answer to inequity to make everybody as worse off as the worst?
How many times do we hear that "people on welfare" get too many freebies? Or complaints that too much of Obama's stimulus program is going to folks in foreclosure rather than those who are actually making their mortgage payments? Or rants against union employees with good healthcare benefits?
Why is the knee-jerk response to take away those benefits from the poor and working class rather than work to expand them into the middle class?
I understand envy. It's not like I don't get jealous of people who make more than I do, are smarter than I am, or have more opportunities than I do. But I don't see how my being jealous means they (whoever "they" might be) should make do with less.
Just so you know where I'm coming from--I work for a non-profit. Although I am an considered a "professional," my entire program is unionized, and I am currently president of my local. I make quite a bit less than I would if I worked for a private corporation. But I do have excellent health benefits (for which I and my recently unblocked arteries are duly grateful!).
Others with my education could have my health benefits if they worked here, but first, they would have to accept my pay. Like that is an option!
So is the answer to say that if one group can't have (because their employer can't or won't pay for it) my level of health benefits, then I shouldn't have it either?
In a different context, (and referring to a past post by Morrison at All Doors Considered), should the fact that an uneducated Deli worker from the projects got financial help from the government to move her family into a suburban home while a newly unemployed, college-educated banker is facing homelessness mean that we should never have helped the deli worker? Would taking funds away from her do anything for the about-to-be-homeless executive?
Somehow, I can't imagine those who "envy" the deli worker would really want to live her life in order to reap her "government benefits."
Bluebird asks his question in the context of union employees, but I think it is a fine question to ask generally: Why is the answer to inequity to make everybody as worse off as the worst?
How many times do we hear that "people on welfare" get too many freebies? Or complaints that too much of Obama's stimulus program is going to folks in foreclosure rather than those who are actually making their mortgage payments? Or rants against union employees with good healthcare benefits?
Why is the knee-jerk response to take away those benefits from the poor and working class rather than work to expand them into the middle class?
I understand envy. It's not like I don't get jealous of people who make more than I do, are smarter than I am, or have more opportunities than I do. But I don't see how my being jealous means they (whoever "they" might be) should make do with less.
Just so you know where I'm coming from--I work for a non-profit. Although I am an considered a "professional," my entire program is unionized, and I am currently president of my local. I make quite a bit less than I would if I worked for a private corporation. But I do have excellent health benefits (for which I and my recently unblocked arteries are duly grateful!).
Others with my education could have my health benefits if they worked here, but first, they would have to accept my pay. Like that is an option!
So is the answer to say that if one group can't have (because their employer can't or won't pay for it) my level of health benefits, then I shouldn't have it either?
In a different context, (and referring to a past post by Morrison at All Doors Considered), should the fact that an uneducated Deli worker from the projects got financial help from the government to move her family into a suburban home while a newly unemployed, college-educated banker is facing homelessness mean that we should never have helped the deli worker? Would taking funds away from her do anything for the about-to-be-homeless executive?
Somehow, I can't imagine those who "envy" the deli worker would really want to live her life in order to reap her "government benefits."
Sunday, May 31, 2009
Weathering the Market During Retirement
Meet Jessica and Joel Soffer. They retired early a few years ago while still in their fifties. But the current economic crisis is catching up with them.
As somewhat misleadingly reported by the Los Angeles Times, the Soffers have a net worth of $1.4 million. I say misleading, because their actual retirement funds started at just over $600,000 and are now, of course,less. The remainder is equity in the home they love and have no intention of leaving.
One's net worth is not necessarily, or even usually, what is available for use during retirement. We all need a place to live, preferably a paid for, mortgage-free place. If we don't want to downsize or if that's not realistic (in my northwest city, downsizing is possible in terms of home size, but not realistic in terms of cost. If a 970 sq. foot downtown condo costs the same as my inner-city 2800 sq. ft. home, what's the point of moving?), then the equity is largely useless. That might change should the terms of reverse mortgages get more reasonable. But for now, when it comes to retirement planning, I only count pensions (as in, wish I had one coming!), Social Security (please let it be there when I'm ready to bail from working life!), and retirement savings.
I understand the Soffers' wanting to keep their family home. I also understand their desire to travel now while they are early in their retirement and still have their health. But one thing I don't get is the balance that the Soffers carry on their credit cards. It's not clear from the article if this is a decreasing balance or one that was acquired during retirement but either way, I'm surprised that they haven't made it a priority to wipe it out.
What I also note about the Soffers (and what I see as a real possibility in my own future) is how much they expend on their two adult children. Both of their children are single parents, and over the course of one year, the Soffers have helped out to the tune of $15,500. I wonder if they would have paid out that much had they both still been working and had a better sense of their own monthly expenses. For myself, while I do help out my five adult daughters (more than I want and less than they'd like), the fact that I have only a certain amount of income coming in each month limits how much of that I am willing to use for them. I wonder if my feelings will be different after retirement, when suddenly there is a larger "pot" of money from which to draw. I wonder if I'll remember that that "pot" must last my lifetime.
As somewhat misleadingly reported by the Los Angeles Times, the Soffers have a net worth of $1.4 million. I say misleading, because their actual retirement funds started at just over $600,000 and are now, of course,less. The remainder is equity in the home they love and have no intention of leaving.
One's net worth is not necessarily, or even usually, what is available for use during retirement. We all need a place to live, preferably a paid for, mortgage-free place. If we don't want to downsize or if that's not realistic (in my northwest city, downsizing is possible in terms of home size, but not realistic in terms of cost. If a 970 sq. foot downtown condo costs the same as my inner-city 2800 sq. ft. home, what's the point of moving?), then the equity is largely useless. That might change should the terms of reverse mortgages get more reasonable. But for now, when it comes to retirement planning, I only count pensions (as in, wish I had one coming!), Social Security (please let it be there when I'm ready to bail from working life!), and retirement savings.
I understand the Soffers' wanting to keep their family home. I also understand their desire to travel now while they are early in their retirement and still have their health. But one thing I don't get is the balance that the Soffers carry on their credit cards. It's not clear from the article if this is a decreasing balance or one that was acquired during retirement but either way, I'm surprised that they haven't made it a priority to wipe it out.
What I also note about the Soffers (and what I see as a real possibility in my own future) is how much they expend on their two adult children. Both of their children are single parents, and over the course of one year, the Soffers have helped out to the tune of $15,500. I wonder if they would have paid out that much had they both still been working and had a better sense of their own monthly expenses. For myself, while I do help out my five adult daughters (more than I want and less than they'd like), the fact that I have only a certain amount of income coming in each month limits how much of that I am willing to use for them. I wonder if my feelings will be different after retirement, when suddenly there is a larger "pot" of money from which to draw. I wonder if I'll remember that that "pot" must last my lifetime.
Tuesday, May 26, 2009
May Update--Getting Back on Track
Well, what d'ya know. Paying down bills and not charging ANYTHING really does reduce one's debt! You might think I'd have figured this out earlier in my 60 years, but apparently it's one of those lessons one needs to keep repeating.
SO--I reduced my indebtedness by $1116.91 during May, have managed to pay every single bill that was due this month, and have not charged ANYTHING. (Yes, I said that twice, but I'm very proud of it. And yes, I know I still have a few days to go, but when the due date for a paycheck is on a Saturday, Sunday or Monday, my employer pays on the Friday before, so I figure I can remain a good girl for the next 2.5 days.)
SO--I reduced my indebtedness by $1116.91 during May, have managed to pay every single bill that was due this month, and have not charged ANYTHING. (Yes, I said that twice, but I'm very proud of it. And yes, I know I still have a few days to go, but when the due date for a paycheck is on a Saturday, Sunday or Monday, my employer pays on the Friday before, so I figure I can remain a good girl for the next 2.5 days.)
Thursday, May 21, 2009
Bathroom Books
I can't be the only one who does this.
I like to have at least one large tome in the bathroom that can be read in short doses without diluting either my interest or requiring me to hang out in the bathroom for more time than I already do.
Encyclopedic reference books are perfect, though they sometimes don't meet my second criterion, which is that it must be the kind of book that I won't mind getting wet, banged around, or curled up from humidity.
Enter Amy Dacyzyn's The Complete Tightwad Gazette.
I read the individual volumes as they came out, but since that was back in the '90's and frugality was still new to me, not much of it stuck. Also, I was greatly put off by an interview the author gave to Money Magazine where she was asked how her children fit in with their friends, and her response was that her children had each other--they didn't need friends. I wasn't sure what a mother who could say such a thing had to teach me about saving money.
However, this volume showed up at a library book sale a few months back, and for some time now has been my bathroom book.
Although it is dated, (computers and the internet figure not in her world) it is still a great read. I had forgotten what a strong sense of humor the author has about her own foibles, how honest she is about what does and doesn't work (getting kids to eat lima beans may never be worth the effort, no matter how frugal or nutritious), and how tolerant she is with regard to any mother's choice as to work outside the home or not.
It's the ultimate bathroom book, clearly meant to be absorbed in small doses. It took me four months to read, and I'd be willing to keep on going, if only I hadn't run out of pages.
Maybe the author was misquoted by Money Magazine? Or maybe I'll just have to forgive her for that lapse.
Oh, and her all-purpose stain removal recipe really does work!
I like to have at least one large tome in the bathroom that can be read in short doses without diluting either my interest or requiring me to hang out in the bathroom for more time than I already do.
Encyclopedic reference books are perfect, though they sometimes don't meet my second criterion, which is that it must be the kind of book that I won't mind getting wet, banged around, or curled up from humidity.
Enter Amy Dacyzyn's The Complete Tightwad Gazette.
I read the individual volumes as they came out, but since that was back in the '90's and frugality was still new to me, not much of it stuck. Also, I was greatly put off by an interview the author gave to Money Magazine where she was asked how her children fit in with their friends, and her response was that her children had each other--they didn't need friends. I wasn't sure what a mother who could say such a thing had to teach me about saving money.
However, this volume showed up at a library book sale a few months back, and for some time now has been my bathroom book.
Although it is dated, (computers and the internet figure not in her world) it is still a great read. I had forgotten what a strong sense of humor the author has about her own foibles, how honest she is about what does and doesn't work (getting kids to eat lima beans may never be worth the effort, no matter how frugal or nutritious), and how tolerant she is with regard to any mother's choice as to work outside the home or not.
It's the ultimate bathroom book, clearly meant to be absorbed in small doses. It took me four months to read, and I'd be willing to keep on going, if only I hadn't run out of pages.
Maybe the author was misquoted by Money Magazine? Or maybe I'll just have to forgive her for that lapse.
Oh, and her all-purpose stain removal recipe really does work!
Saturday, May 16, 2009
Moving Florence Up Front
Florence, whose blog Ruminations, is on my blogroll, left a comment on my last post, with a link to a great and cautionary tale
From an economist.
From an economist who writes for the NY Times!
Who writes about money!
Who clearly did NOT take his own advice.
So, here's the link, upfront in the blog: My Personal Credit Crisis
And here's to Florence who provided it.
From an economist.
From an economist who writes for the NY Times!
Who writes about money!
Who clearly did NOT take his own advice.
So, here's the link, upfront in the blog: My Personal Credit Crisis
And here's to Florence who provided it.
Thursday, May 14, 2009
Could've Been Me
Thanks to Boston Gal for linking to this story on public radio: Putting a New Value on the Golden Years.
I have very mixed feelings as I read it.
Pretty much, any story about a single (in Meredith McKenzie's case, widowed) older woman coping with today's economic environment captures my interest. I think it is cool that she gave up real estate (or, it gave her up) to take a lesser-paying but more emotionally fruitful position helping to protect the environment. She was able to turn volunteer work into a second career, which is also admirable, though funding for her position is now in question. And she is able to adapt from renting a large home on the beach, to a one room, converted garage--again, making do with what she (no longer) has.
But what about her lack of savings?
My God! She's 56 years old, and has apparently been a widow for more than a decade. Not to mention, she was earning six figures! How could she NOT have saved anything?
I don't have a lot of room to talk--I didn't start serious savings until I was in my late 40's. I have my excuses: my child-rearing didn't end until last year; I wasn't earning anywhere near six figures; I--oh, never mind! The truth is, I just wasn't paying attention.
Then again, what about Meredith's lack of real estate? I mean, she was in the business. You'd think she might have saved toward a down payment, if not for retirement.
Meredith scares me because I can see how easily I might be her! And yet, she seems like the kind of person who would be great to be friends with, or to have to dinner.
I guess I just wouldn't take financial advice from her!
I have very mixed feelings as I read it.
Pretty much, any story about a single (in Meredith McKenzie's case, widowed) older woman coping with today's economic environment captures my interest. I think it is cool that she gave up real estate (or, it gave her up) to take a lesser-paying but more emotionally fruitful position helping to protect the environment. She was able to turn volunteer work into a second career, which is also admirable, though funding for her position is now in question. And she is able to adapt from renting a large home on the beach, to a one room, converted garage--again, making do with what she (no longer) has.
But what about her lack of savings?
My God! She's 56 years old, and has apparently been a widow for more than a decade. Not to mention, she was earning six figures! How could she NOT have saved anything?
I don't have a lot of room to talk--I didn't start serious savings until I was in my late 40's. I have my excuses: my child-rearing didn't end until last year; I wasn't earning anywhere near six figures; I--oh, never mind! The truth is, I just wasn't paying attention.
Then again, what about Meredith's lack of real estate? I mean, she was in the business. You'd think she might have saved toward a down payment, if not for retirement.
Meredith scares me because I can see how easily I might be her! And yet, she seems like the kind of person who would be great to be friends with, or to have to dinner.
I guess I just wouldn't take financial advice from her!
Monday, May 11, 2009
Kharma, Kismet, What Have You
Not that I'm a big believer in fate, or Karma, or whatever you call it.
BUT on Saturday, I made out a shopping list for my alternate-monthly trek to Wal-Mart. It included an electrical power strip, a cheese slicer, rubber dishwashing gloves and light bulbs.
On the way out to my car, I saw that my neighbors were having a garage sale, so, naturally, I wandered over to check it out.
[Cue the Twilight Zone music]
Lo and behold, they had a heavy-duty power strip for $1.
AND a cheese-slicer--a much nicer one that I would have bought--for the incredible price of a dime.
But wait, there's more!
They also had three unopened packages of rubber gloves, size small. (When I check my weight on those charts, I immediately go to "big-boned." But that is such a lie--I have small hands, and, if I admitted it, which I won't, a small frame.) Each package was another dime.
For a grand outlay of $1.40, I got nearly everything on my list, and saved myself a trip across town.
OK, I never did get the light bulbs. Apparently there are limits to one's karma. But I'm not complaining.
BUT on Saturday, I made out a shopping list for my alternate-monthly trek to Wal-Mart. It included an electrical power strip, a cheese slicer, rubber dishwashing gloves and light bulbs.
On the way out to my car, I saw that my neighbors were having a garage sale, so, naturally, I wandered over to check it out.
[Cue the Twilight Zone music]
Lo and behold, they had a heavy-duty power strip for $1.
AND a cheese-slicer--a much nicer one that I would have bought--for the incredible price of a dime.
But wait, there's more!
They also had three unopened packages of rubber gloves, size small. (When I check my weight on those charts, I immediately go to "big-boned." But that is such a lie--I have small hands, and, if I admitted it, which I won't, a small frame.) Each package was another dime.
For a grand outlay of $1.40, I got nearly everything on my list, and saved myself a trip across town.
OK, I never did get the light bulbs. Apparently there are limits to one's karma. But I'm not complaining.
Friday, May 8, 2009
More On Disappearing Bloggers
Sheesh! Now Brian at "Over 40, Overweight and In Debt" has joined the ranks of "Where'd They Go!" Come on folks--give us a heads up or a warning or a last post or SOMETHING!
Shevy from Shevy's Miscellaneous Life brings up the possibility that some of the bloggers may have died--I certainly hope that's not the case for most of them! But before I went into the hospital for my heart surgery, I did leave an envelope with my will that let my children know about my blog (which they don't know about because I've never told them) and gave them the password so that one of them could do a final post letting folks know I didn't make it.
I do think if we've taken the trouble to bring strangers into our financial life, we owe them an explanation when we decide to slam the door shut (or get it slammed on us).
Morrison from All Doors Considered posits that no one wants to read downer posts from bloggers but then, again, she says she strives to put up positive posts. Say what? I love her blog, but on any given day, she drives right over the proverbial cliff when it comes to depressing posts!
I know that Sra. Dog over at Dog Ate My Finances isn't much enjoying being jobless but I have to say, I do like reading about her struggles and find much of what she has to say about it helpful in thinking about what I would do if I were suddenly downsized out of a job. (One option: make nice to her still-employed husband so he'd let me move in with them?)
Personally, I think blogging about the "downs" of our financial lives can be as instructive as lauding our successes. Life has always tended to be more of roller-coaster ride than an ever-upward climb to the top of the mountain.
I'm not going to eliminate some of these missing blogs from my blogroll just yet. I'm keeping my fingers crossed that they will return. For future reference--if you're planning on leaving the blogging world in a non-terminal way, at least drop Grace a line first!
Shevy from Shevy's Miscellaneous Life brings up the possibility that some of the bloggers may have died--I certainly hope that's not the case for most of them! But before I went into the hospital for my heart surgery, I did leave an envelope with my will that let my children know about my blog (which they don't know about because I've never told them) and gave them the password so that one of them could do a final post letting folks know I didn't make it.
I do think if we've taken the trouble to bring strangers into our financial life, we owe them an explanation when we decide to slam the door shut (or get it slammed on us).
Morrison from All Doors Considered posits that no one wants to read downer posts from bloggers but then, again, she says she strives to put up positive posts. Say what? I love her blog, but on any given day, she drives right over the proverbial cliff when it comes to depressing posts!
I know that Sra. Dog over at Dog Ate My Finances isn't much enjoying being jobless but I have to say, I do like reading about her struggles and find much of what she has to say about it helpful in thinking about what I would do if I were suddenly downsized out of a job. (One option: make nice to her still-employed husband so he'd let me move in with them?)
Personally, I think blogging about the "downs" of our financial lives can be as instructive as lauding our successes. Life has always tended to be more of roller-coaster ride than an ever-upward climb to the top of the mountain.
I'm not going to eliminate some of these missing blogs from my blogroll just yet. I'm keeping my fingers crossed that they will return. For future reference--if you're planning on leaving the blogging world in a non-terminal way, at least drop Grace a line first!
Thursday, May 7, 2009
Where'd They Go? And Why?
Not to sound overly cranky, but why is it that some of my favorite bloggers have decided to drop off the face of the internet?
I forgive JW, whose "Need to Be Debt Free" was one of my favorite reads--apparently someone turned his employer onto the blog and put JW's employment in jeopardy. The blog or the job -- pretty easy choice, there!
But what is Bluebird's excuse? I have always found his blog, Hedonic Adjustment, to be an interesting read. I'm hopeful about him, because he's wandered away before, and then returned. As for him being tired of blogging--my personal opinion is that no blogger should disappear until or unless GRACE grows tired of reading them!
I have no idea what happened to Petunia at Keeping Score--one day she was there and the next, she wasn't.
Then, just as I was thinking about adding Change Can Be a Good Thing to my blogroll, the author decides to hang it up. I especially like the title of that blog in all of its connotations, except the idea that she can change her mind about blogging!
Whoever said "All good things must end" probably got it right. But I reserve the right to whine and blog about it.
I forgive JW, whose "Need to Be Debt Free" was one of my favorite reads--apparently someone turned his employer onto the blog and put JW's employment in jeopardy. The blog or the job -- pretty easy choice, there!
But what is Bluebird's excuse? I have always found his blog, Hedonic Adjustment, to be an interesting read. I'm hopeful about him, because he's wandered away before, and then returned. As for him being tired of blogging--my personal opinion is that no blogger should disappear until or unless GRACE grows tired of reading them!
I have no idea what happened to Petunia at Keeping Score--one day she was there and the next, she wasn't.
Then, just as I was thinking about adding Change Can Be a Good Thing to my blogroll, the author decides to hang it up. I especially like the title of that blog in all of its connotations, except the idea that she can change her mind about blogging!
Whoever said "All good things must end" probably got it right. But I reserve the right to whine and blog about it.
Wednesday, May 6, 2009
Freebie Time
OK, I admit it--I DO (sometimes; occasionally; not more than twice a week!) eat fast food. Which is why I like this coupon from Kentucky Fried Chicken for a free meal.
You can print out up to four of the coupons. As long as everyone in your party shows up in person, each person can use their own coupon.
It's good through May 19th, but it is not usable on Mother's Day.
Come on! Mother's Day? It would be just tacky to treat mom with a free coupon even if you did try to convince her that KFC was her favorite restaurant!
You can print out up to four of the coupons. As long as everyone in your party shows up in person, each person can use their own coupon.
It's good through May 19th, but it is not usable on Mother's Day.
Come on! Mother's Day? It would be just tacky to treat mom with a free coupon even if you did try to convince her that KFC was her favorite restaurant!
Friday, May 1, 2009
It's a New Month; It's a New Day!
So a couple of days ago, I was blithering about frugal fatigue and being stuck in the financial doldrums. Today, I'm feeling much better about my finances. Why? I have no clue.
But there were a few small bright spots:
For one, my oldest daughter, out of the blue, paid me back $400. The thing is, while I do "loan" my kids money from time to time, I never really expect to see the money again. My oldest daughter probably owes me around $1300 over the past year but I haven't hounded her for repayment. In fact, I've never mentioned it. That's why it was great to get an early Mother's Day card with her cash inside it. I assume it came from a tax return but whatever the source, I was glad to get it.
Another reason to feel good is that my 403(b) is finally showing signs of health. No, it's not back to where it was in October, 2007. But it's quite a bit above the "under $100,000" point it had dropped to just this past March.
And finally, I realized that April, 2009 was the first month in a long time where every single bill, including every single unexpected expense that suddenly arose, got paid, with no borrowing and no robbing one creditor to pay another. It feels fine, so fine that I want to do it again in May!
But there were a few small bright spots:
For one, my oldest daughter, out of the blue, paid me back $400. The thing is, while I do "loan" my kids money from time to time, I never really expect to see the money again. My oldest daughter probably owes me around $1300 over the past year but I haven't hounded her for repayment. In fact, I've never mentioned it. That's why it was great to get an early Mother's Day card with her cash inside it. I assume it came from a tax return but whatever the source, I was glad to get it.
Another reason to feel good is that my 403(b) is finally showing signs of health. No, it's not back to where it was in October, 2007. But it's quite a bit above the "under $100,000" point it had dropped to just this past March.
And finally, I realized that April, 2009 was the first month in a long time where every single bill, including every single unexpected expense that suddenly arose, got paid, with no borrowing and no robbing one creditor to pay another. It feels fine, so fine that I want to do it again in May!
Wednesday, April 29, 2009
Financial Doldrums & April Update
So I've been blogging about my finances since mid-2007. The general idea has been to self-monitor my debts and, one hopes, watch the indebtedness dwindle. The debts have indeed dwindled, but at an alarmingly slow pace. Here I am, almost two years later, and I've only dented the indebtedness by a total of $4900. Even that hasn't a steady drop--more like a series of rises and falls as life and Murphy keep intervening.
Right now I feel like I'm in the financial doldrums--the fiscal version of the depressing calm that beset sailors in olden times. It's not that anything terrible is happening to me financially. But it's also not like I'm making any great progress on debt reduction, either.
Case in point: For the month of April, I managed to reduce my total indebtedness by a whopping $88.41!
I gotta do better than this if I plan to ever retire debt-free.
Right now I feel like I'm in the financial doldrums--the fiscal version of the depressing calm that beset sailors in olden times. It's not that anything terrible is happening to me financially. But it's also not like I'm making any great progress on debt reduction, either.
Case in point: For the month of April, I managed to reduce my total indebtedness by a whopping $88.41!
I gotta do better than this if I plan to ever retire debt-free.
Friday, April 24, 2009
Five Thoughts for A Friday
A bunch of small things on my mind on this beautiful Friday (The weatherman is promising a nice week-end as well, but he's fickle and untrustworthy.):
1. A fair number of bloggers are getting burned out worrying about their finances. KemKem, at Life As I know It, and Karissa at Keeping It Seriously Simple are both having a bad case of the "Blahs." I know these thoughts only too well. Some might suggest just ignoring the feeling and soldiering on. But I think it is a sign of frugal fatigue and should be combatted by a small amount of personal, fun spending. One nice meal out or a single overnight getaway won't break the bank, and may well help get someone who is suffering back on the frugal track. At least, if we don't do it every week!
2. Earth day came, and Grace came up short, as usual. But I am making one new concession to greening the planet--I am using (mostly, when I remember--currently, I have remembered during two of my last three trips to the grocery store) one of those ubiquitous canvas shopping bags.
3. Mighty Bargain Hunter has a lovely post about help given to a homeless woman. While I could not (or maybe, would not) have charged $55 as easily as he did, I greatly admire his deed.
4. I never thought I would consider an annuity. In fact, they have always seemed to me to be an expensive and not very effective retirement option. But this article from the Wall Street Journal has gotten me thinking.
5. And finally, for those who have e-mailed me to ask--I am feeling great. According to my doctor, whom I saw yesterday, I am the poster child for anyone recovering from heart surgery. I've lost 11 pounds and I'm walking every day--something I should have been doing over the past year. Too bad it took this wake-up call to get me serious about weight loss and exercise!
1. A fair number of bloggers are getting burned out worrying about their finances. KemKem, at Life As I know It, and Karissa at Keeping It Seriously Simple are both having a bad case of the "Blahs." I know these thoughts only too well. Some might suggest just ignoring the feeling and soldiering on. But I think it is a sign of frugal fatigue and should be combatted by a small amount of personal, fun spending. One nice meal out or a single overnight getaway won't break the bank, and may well help get someone who is suffering back on the frugal track. At least, if we don't do it every week!
2. Earth day came, and Grace came up short, as usual. But I am making one new concession to greening the planet--I am using (mostly, when I remember--currently, I have remembered during two of my last three trips to the grocery store) one of those ubiquitous canvas shopping bags.
3. Mighty Bargain Hunter has a lovely post about help given to a homeless woman. While I could not (or maybe, would not) have charged $55 as easily as he did, I greatly admire his deed.
4. I never thought I would consider an annuity. In fact, they have always seemed to me to be an expensive and not very effective retirement option. But this article from the Wall Street Journal has gotten me thinking.
5. And finally, for those who have e-mailed me to ask--I am feeling great. According to my doctor, whom I saw yesterday, I am the poster child for anyone recovering from heart surgery. I've lost 11 pounds and I'm walking every day--something I should have been doing over the past year. Too bad it took this wake-up call to get me serious about weight loss and exercise!
Tuesday, April 21, 2009
The Parking Ticket Rant
ARRGH!
Never mind that I deserved what I got. Never mind that I have no excuses. None of that will prevent me from ranting about parking tickets.
First, I hardly ever take my car to work. I am a firm believer in mass transit; my office subsidizes annual bus passes; I love riding the bus because it gives me uninterrupted reading time.
BUT--part of the fallout from heart surgery is the necessity of doctor's appointments. For whatever reason, all of my appointments have been scheduled mid-day. This means I can't economically use the parking lots near my office because none of them allow "in and out" access. Going in and out twice in the same day is prohibitively expensive.
So I park on the street. At 1.5 hour meters. Which I then sometimes forget about.
That particular brand of forgetfulness costs me $24 a ticket.
Today, I got my 4th ticket in a month.
A total (so far!) of $96!
Money that could have gone to debt reduction. Money that I would much rather have wasted some other way!
May I just say again: ARRGH!
Never mind that I deserved what I got. Never mind that I have no excuses. None of that will prevent me from ranting about parking tickets.
First, I hardly ever take my car to work. I am a firm believer in mass transit; my office subsidizes annual bus passes; I love riding the bus because it gives me uninterrupted reading time.
BUT--part of the fallout from heart surgery is the necessity of doctor's appointments. For whatever reason, all of my appointments have been scheduled mid-day. This means I can't economically use the parking lots near my office because none of them allow "in and out" access. Going in and out twice in the same day is prohibitively expensive.
So I park on the street. At 1.5 hour meters. Which I then sometimes forget about.
That particular brand of forgetfulness costs me $24 a ticket.
Today, I got my 4th ticket in a month.
A total (so far!) of $96!
Money that could have gone to debt reduction. Money that I would much rather have wasted some other way!
May I just say again: ARRGH!
Tuesday, April 14, 2009
Healthy Health Insurance
For obvious reasons (like, say, quadruple bypass heart surgery!) I am grateful that I have health insurance. Mine is through Kaiser. So far, the costs of the initial testing and subsequent surgery total $47,458.12.
My personal costs? $20 in co-pays for two office visits plus another $30 for additional medications.
I went back to work full-time yesterday, exactly four weeks and two days after the surgery.
Health insurance is on my mind because a colleague submitted her resignation in my absence, and I can't help but think she's making a terrible mistake. She's not happy with her supervisor, but the two of them have worked together for over 25 years. What would another couple of years matter?
More importantly, she's only 62. She can get social security, but she won't be eligible for Medicare for another three years. Unfortunately, even if she can afford COBRA (and I'm not sure she can) it will only cover the first 18 months after she leaves. That means she will be uninsured for another 18 months until Medicare kicks in.
Her response? "I'll just go to the emergency room. Besides, I'm healthy."
Umm--Hello? Didn't my experience teach you anything? I thought I was healthy, too. Instead, I've been a walking time bomb for years.
Who wants to risk a $47,000+ debt hanging over their retirement?
Not me, that's for sure. Now if I could just persuade my colleague.
My personal costs? $20 in co-pays for two office visits plus another $30 for additional medications.
I went back to work full-time yesterday, exactly four weeks and two days after the surgery.
Health insurance is on my mind because a colleague submitted her resignation in my absence, and I can't help but think she's making a terrible mistake. She's not happy with her supervisor, but the two of them have worked together for over 25 years. What would another couple of years matter?
More importantly, she's only 62. She can get social security, but she won't be eligible for Medicare for another three years. Unfortunately, even if she can afford COBRA (and I'm not sure she can) it will only cover the first 18 months after she leaves. That means she will be uninsured for another 18 months until Medicare kicks in.
Her response? "I'll just go to the emergency room. Besides, I'm healthy."
Umm--Hello? Didn't my experience teach you anything? I thought I was healthy, too. Instead, I've been a walking time bomb for years.
Who wants to risk a $47,000+ debt hanging over their retirement?
Not me, that's for sure. Now if I could just persuade my colleague.
Monday, April 6, 2009
The Finances of Friendship
Miss M has a new post about friendships and how they are impacted by economic status. I don't disagree with her conclusion that we tend to keep our closest friendships with those who are also close to our class.
But it does cause me to reflect on my closest friendship.
L and I met in graduate school thirty-five years ago. We are both loners. Neither of us married. Depending on where we were living (currently we're in the same city, but we've been as much as 2000 miles apart), the closeness of our relationship has ebbed and flowed.
We discovered early on that we travel well together, so we've always taken vacations with one another. She is the friend I went with to Japan last October.
Since my heart surgery, and after my daughter returned home to her family, L has been dropping by for dinner four nights a week. She has also provided me with transportation since I'm still not released to drive.
We're a lot alike. But NOT financially.
She is quite wealthy and always has been. Not only does she come from a wealthy family, but she has taken private sector jobs that pay very well.
We have worked hard over the years to keep money from being an issue.
We both like to eat out. In general, we take turns paying. When I'm paying, we're likely to hit the local Thai restaurant. When she craves something more exciting and more expensive, she pays. We don't try to keep the money even--just the number of times each of us pays.
On vacations, we tend to agree as to the quality of the lodgings we want--we both want a certain level of comfort, but she never insists on top-drawer accommodations. We both like to play tourist, so I make sure in advance that I can afford the museums and other attraction costs. We both agree to fly coach. Actually, she flies a lot in her job, and she takes coach, then, too.
Shopping has always been a joke between us. She is an inveterate shopper and she loves it. I'm not. I accompany her with a book in hand, and I head for the nearest chair while she scouts out her "must-have" purchases. She comes home from our vacations with at least one extra suitcase of new stuff while I tend to be happy with a couple of bookmarks or coin purses.
But in spite of our class differences and the variance in our financial status, we have remained friends all this time. I would hate to think that something like money could ever change that.
But it does cause me to reflect on my closest friendship.
L and I met in graduate school thirty-five years ago. We are both loners. Neither of us married. Depending on where we were living (currently we're in the same city, but we've been as much as 2000 miles apart), the closeness of our relationship has ebbed and flowed.
We discovered early on that we travel well together, so we've always taken vacations with one another. She is the friend I went with to Japan last October.
Since my heart surgery, and after my daughter returned home to her family, L has been dropping by for dinner four nights a week. She has also provided me with transportation since I'm still not released to drive.
We're a lot alike. But NOT financially.
She is quite wealthy and always has been. Not only does she come from a wealthy family, but she has taken private sector jobs that pay very well.
We have worked hard over the years to keep money from being an issue.
We both like to eat out. In general, we take turns paying. When I'm paying, we're likely to hit the local Thai restaurant. When she craves something more exciting and more expensive, she pays. We don't try to keep the money even--just the number of times each of us pays.
On vacations, we tend to agree as to the quality of the lodgings we want--we both want a certain level of comfort, but she never insists on top-drawer accommodations. We both like to play tourist, so I make sure in advance that I can afford the museums and other attraction costs. We both agree to fly coach. Actually, she flies a lot in her job, and she takes coach, then, too.
Shopping has always been a joke between us. She is an inveterate shopper and she loves it. I'm not. I accompany her with a book in hand, and I head for the nearest chair while she scouts out her "must-have" purchases. She comes home from our vacations with at least one extra suitcase of new stuff while I tend to be happy with a couple of bookmarks or coin purses.
But in spite of our class differences and the variance in our financial status, we have remained friends all this time. I would hate to think that something like money could ever change that.
Thursday, April 2, 2009
Retirement Practice
Even though the damage to my heart turned out to be worse than expected (a quadruple by-pass as opposed to a triple), my recovery could not have been smoother. I've had surprisingly little pain, more energy than I expected, and WAY too much free time on my hands. I won't be allowed to drive for another week and a half, which keeps me at home.
So I'm looking at this as retirement practice.
It is frustratingly clear to me that between now and the time I actually do retire (which, according to my schedule is in 9 years), I'd better have serious plans in place.
Getting up late, reading a lot, and watching daytime television is already getting old and I've only been doing it for three weeks.
I am so BORED!
Part of it, of course, is that my close friends are still working so they are not available to play with me during the day. Also, a "real" retirement would include volunteer activities, writing, travel, and, probably, a car. That latter is a bit iffy since I'm not the world's greatest driver, and who knows how much worse I'll be in another decade.
I am less able to structure my time than I expected--something that will have to change once I retire.
Still, it's been an interesting exercise--and proof to me that I am, in no way, ready to retire right now.
So I'm looking at this as retirement practice.
It is frustratingly clear to me that between now and the time I actually do retire (which, according to my schedule is in 9 years), I'd better have serious plans in place.
Getting up late, reading a lot, and watching daytime television is already getting old and I've only been doing it for three weeks.
I am so BORED!
Part of it, of course, is that my close friends are still working so they are not available to play with me during the day. Also, a "real" retirement would include volunteer activities, writing, travel, and, probably, a car. That latter is a bit iffy since I'm not the world's greatest driver, and who knows how much worse I'll be in another decade.
I am less able to structure my time than I expected--something that will have to change once I retire.
Still, it's been an interesting exercise--and proof to me that I am, in no way, ready to retire right now.
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