Wednesday, February 13, 2008
Medical Expenses Not Covered
One thing that I would like to start evaluating is why so many medical bills are not being covered in full (less the co-pay). Particularly dentist bills. Even my daughter's weight check was denied. Eventually it will get paid. We get 6 well visits the first year and the others need to be because of an issue.
Tuesday, February 12, 2008
Home Ownership Acclerator -Helpful or Not
I am excited about researching this brand new concept to me. Paying down your mortgage in a unique way using Home Ownership Acclerator or a Money Merge Account from United First Financial.
The Home Ownership Acclerator appeared very interesting until I hit upon one of the FAQ.
"4. What is my “credit line”?
Your credit line is the maximum amount you can borrow under the terms of the agreement. This is usually higher than your first draw amount, which will typically be used to pay off an old mortgage (in a refinance) or complete a purchase transaction. Your credit line will remain the same throughout the 10-year interest-only period, and then it will decline by 1/240 per month throughout the subsequent 20-year repayment period, reaching zero at the end of the 30-year term. You’ll need to keep your principal balance below this line throughout the term of the loan, meaning that you’ll at least need to be making progress against paying down principal during the final 20 years."
http://www.myhoamortgage.com/FAQS.htm.
The interest only portion of 10 years is what has me questioning.
Oh well, I guess back to the drawing board. What seemed very interesting is that using this Home Ownership Accelerator your funds (such as your paychecks) are deposited into an account to reduce your daily balance which in effect reduces your daily interest owed on your mortgage.
Next idea is the Money Merge Account from United First Financial. This software program cost $3500. You also need to get a Advanced Line of Credit to utilize this mortgage paydown method.
http://thejubileeproject.com/learn--index/learn-indepth-index/in-depth--how-it-works-together.htm.
Call in from Dave Ramsey's show
call regarding Money Merge Accounts.
http://www.daveramsey.com/etc/askdave/?intContentId=8082
The Home Ownership Acclerator appeared very interesting until I hit upon one of the FAQ.
"4. What is my “credit line”?
Your credit line is the maximum amount you can borrow under the terms of the agreement. This is usually higher than your first draw amount, which will typically be used to pay off an old mortgage (in a refinance) or complete a purchase transaction. Your credit line will remain the same throughout the 10-year interest-only period, and then it will decline by 1/240 per month throughout the subsequent 20-year repayment period, reaching zero at the end of the 30-year term. You’ll need to keep your principal balance below this line throughout the term of the loan, meaning that you’ll at least need to be making progress against paying down principal during the final 20 years."
http://www.myhoamortgage.com/FAQS.htm.
The interest only portion of 10 years is what has me questioning.
Oh well, I guess back to the drawing board. What seemed very interesting is that using this Home Ownership Accelerator your funds (such as your paychecks) are deposited into an account to reduce your daily balance which in effect reduces your daily interest owed on your mortgage.
Next idea is the Money Merge Account from United First Financial. This software program cost $3500. You also need to get a Advanced Line of Credit to utilize this mortgage paydown method.
http://thejubileeproject.com/learn--index/learn-indepth-index/in-depth--how-it-works-together.htm.
Call in from Dave Ramsey's show
call regarding Money Merge Accounts.
http://www.daveramsey.com/etc/askdave/?intContentId=8082
Sunday, February 10, 2008
Nursing woes, Nursing successes
To my financial blog readers, don't worry I will be back to posting financial type posts.
My first and second son did not successfully nurse. I did pump for a week after having my 3rd son (now in heaven). I did rec. a pretty good milk supply. So with my daughter I pumped for the first month and gradually switched over to full nursing. At 3 1/2 months, I was told that she needed more and cereal would be the best b/c she might not accept nursing if she was eating solids, bottle feeding and nursing. At each subsequent doctor appointment, I figured that I would be told to stop nursing but luckily all weighins were good. So why does the scale mean so much? Why does that decide whether my daughter gets to nurse? Now at 8 months, the question arises again. Is she getting enough? No, but my milk is still available to her and she can supplement with real food including soy formula in her cereal.
I would just like to have one child where nursing is not this huge problem.
Praise filled comments appreciated. Constructive criticism try to avoid regarding this matter. Thanks for your understanding!
My first and second son did not successfully nurse. I did pump for a week after having my 3rd son (now in heaven). I did rec. a pretty good milk supply. So with my daughter I pumped for the first month and gradually switched over to full nursing. At 3 1/2 months, I was told that she needed more and cereal would be the best b/c she might not accept nursing if she was eating solids, bottle feeding and nursing. At each subsequent doctor appointment, I figured that I would be told to stop nursing but luckily all weighins were good. So why does the scale mean so much? Why does that decide whether my daughter gets to nurse? Now at 8 months, the question arises again. Is she getting enough? No, but my milk is still available to her and she can supplement with real food including soy formula in her cereal.
I would just like to have one child where nursing is not this huge problem.
Praise filled comments appreciated. Constructive criticism try to avoid regarding this matter. Thanks for your understanding!
Tuesday, February 5, 2008
Carnival of Debt Reduction #125
The Carnival of Debt Reduction #125 was hosted by
Broke Grad Student
Broke Grad Student
Saturday, February 2, 2008
How The Money We Saved From Our Italian Holiday Helped Pay Down Our Mortgage Principal
In May of 2000, we traveled to Italy for a week. We had an independent tour of Vatican City, Rome, Venice, an evening trip to Pisa and a day trip to Turin.
After arriving home, we put our lira away as souvenirs or to use on a future trip. By the end of February 2002, lira was no longer legal tender. During 2004 or 2005, I went to the bank to convert lira to U.S. dollars. I used the money to make a principal payment to our mortgage company.
Saving your money to put towards an emergency fund or paying down your debt is a good way to use the extra funds from a vacation, from coupon savings or just some extra money burning a hole in your pocket.
Thursday, January 31, 2008
More Ways to Save Money
Is it easier to save money or to spend money? When I was younger, I enjoyed saving money. If I rec. a gift of money, the money went into my bank account. At some point, when someone gave me money I felt that it was neccessary to explain what I used the money for. Not sure when this happened. I know my Uncle got tired of hearing that I put the money into the bank. He started getting me gift certificates for a particular clothes store.
There is a huge amount of gift cards that went unredeemed last year. This year, I tried not to contribute to that by giving people cash or checks rather than gift cards.
1) Gifts of cash -put the money into the bank rather than spending it right away.
The problem that I have had with giving cash in the past is that I figured that it would not be used for something special. Ladies and gentlemen, I am now over that concern. If someone needs the cash to buy dinner for the next night that is great. I don't care if they bought gas or used it to go out to dinner.
2) Don't save gift cards for special things
In the past I have saved gift cards for that perfect thing. Now if I make a purchase at a store and have a gift card, I use it for the purchase even if it is for something as simple as socks or a DVD for my kids.
3) Why do we need to justify that we bought this great thing with our giftcards? It would be nice but in reality we need trash bags and cat food.
4) My husband and I both rec. universal type gift cards this year. I used mine towards buying groceries. I had the gift card and our next purchase was food. Yes, I could have saved it for something great but that is not what I needed.
There is a huge amount of gift cards that went unredeemed last year. This year, I tried not to contribute to that by giving people cash or checks rather than gift cards.
1) Gifts of cash -put the money into the bank rather than spending it right away.
The problem that I have had with giving cash in the past is that I figured that it would not be used for something special. Ladies and gentlemen, I am now over that concern. If someone needs the cash to buy dinner for the next night that is great. I don't care if they bought gas or used it to go out to dinner.
2) Don't save gift cards for special things
In the past I have saved gift cards for that perfect thing. Now if I make a purchase at a store and have a gift card, I use it for the purchase even if it is for something as simple as socks or a DVD for my kids.
3) Why do we need to justify that we bought this great thing with our giftcards? It would be nice but in reality we need trash bags and cat food.
4) My husband and I both rec. universal type gift cards this year. I used mine towards buying groceries. I had the gift card and our next purchase was food. Yes, I could have saved it for something great but that is not what I needed.
Wednesday, January 23, 2008
Challenge: 10 Things to do for $10 or less
(each item cost $10 or less)
1) Have a movie night at home
or Go to a movie at the AMC theater on Sat or Sun before noon for $5 a ticket
2) Have a picnic at the park
3) Go out for ice cream
Go to the playground
Take a walk
4) Site seeing
Watch a parade
5) Jump rope / exercise
6) Go to the library
Bring home a magazine, a book, a CD or a DVD
7) Have a pot luck picnic
8) Do a puzzle, play a boardgame, learn a new card game
9) Buy a craft kit
10) Visit a friend
What are your top 10 ideas?
1) Have a movie night at home
or Go to a movie at the AMC theater on Sat or Sun before noon for $5 a ticket
2) Have a picnic at the park
3) Go out for ice cream
Go to the playground
Take a walk
4) Site seeing
Watch a parade
5) Jump rope / exercise
6) Go to the library
Bring home a magazine, a book, a CD or a DVD
7) Have a pot luck picnic
8) Do a puzzle, play a boardgame, learn a new card game
9) Buy a craft kit
10) Visit a friend
What are your top 10 ideas?
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