Financial Advice

newcastlemom · #1 (**permalink**) 07-07-2006, 11:12 AM

We have been married 20 years, three kids (high school-all three). Husband works full time, I work pt until kids are out of school. I work down the block from the HS, so we even commute together. Husband and I both have small, commuter vehicles to save gas etc. We also have a truck to tow the boat or trailer-all paid for). The three vehicles are the only thing we have financed, $200.00 a month for each (total $600.00 a month for the bank loan). Insurance with one tennager is 3K a year (the best we can get). The only thing we have financed is the house, of course. It has a considerable amount of equity, it is now worth three times more than what we bought it for. We also have a small rental home, that helps us pay our mortgage. We have NO credit cards. I cut our own hair, I color my own hair. I do not sew though, so we buy clothing, nothing expensive, again. We make our own crafts,jewerly, etc. I have a digital camera, scanner, a great printer and love the picture hobby. We do shop at thrift stores sometimes. Two oldest kids have pt jobs and that's theier spending money and they pay us so much for vehicle insurance. We dont have medical expenses. We dont have expensive taste, the couches are 10 yrs old with slip covers. We dont travel, eat out or go to the movies. We dont buy DVD's. We have one in braces, too. We do have cell phones, but share minutes and we all have it in our heads to not over use them. We do food storage and pay tithing. We have a pool, so that's our recreation, but we also take the paid for old boat out to the lake which is 3 miles away. We have a summer garden, fruit trees, etc. We have dogs that are our other kids and enjoy them. OK, so after all this, husband and I still cant save for anything. There's nothing left over! We want to save for a vacation, for retirement, college, just something left over! We just dont get it. How does any one else make ends meet? We KNOW we have a smaller mortgage than alot of people, and they seem to be able to do it all. I wish I knew of something that I could do at home, while the kids are doinghomework. If I could just make another 1K working from home, it might help. Any ideas? Has anyone been here too?

shanstress70 · #2 (**permalink**) 07-07-2006, 11:45 AM

I think that a lot of people are in your shoes. It seems like everyone had bigger, finer homes and cars than us too, but I know that these people are in debt to their eyeballs! That's the American way now.

I personally like my smallish house, as it allows more money for travel, etc. Also, when my husband was out of work for a while, we could still make the bills. But at least in my area, it seems like $500K houses are the norm.

Is there any hope for a promotion at your husband's job where he would be making more money? If not, perhaps you could work on your own career since your kids are almost grown. You could do online classes from home, and maybe by the time they graduate, you'd be well on your way to making more money.

Just an idea...

Ray · #3 (**permalink**) 07-07-2006, 01:45 PM

That was some good input from Shannon, but I also have some other ideas:

1) Stop paying the auto insurance for your child to be able to drive and let him or her pay for that... not only to save yourself $3000 a year but to also help your child learn how to earn.

2) Offer to "babysit" children who have parents who both work for a living an hour or two after they get out of school, or before they can come and get them... not only to make money but to help those children have a nice place to come home to after school. Or sell some of that fruit, perhaps as preserves, from the fruit trees you have in your yard. (You only need to make $20 a week to make $1000 a year - or do you need $1000 more a month???)

3) Buy and sell things on ebay. You can easily make money doing that. And you can sell the things that you buy on ebay for just a little bit more than you paid, if you don't have other things to sell. (Some people make many $1000's a year by making that their "work")

But whatever you do, I hope you enjoy the "fruits" of your labors, besides what your money can buy.

Jason · #4 (**permalink**) 07-09-2006, 08:21 PM

Easy: Don't pay your tithing. Take that money and invest it.

I cannot believe how much money I have now that Im no longer LDS. We can finally enjoy life, instead of watching the church mispend our money in stupid million dollar "meetinghouses" and temples.

miztrniceguy · #5 (**permalink**) 07-09-2006, 08:41 PM

Quote:

Easy: Don't pay your tithing. Take that money and invest it.

I cannot believe how much money I have now that Im no longer LDS. We can finally enjoy life, instead of watching the church mispend our money in stupid million dollar "meetinghouses" and temples.
[/b]

hmmm.....i've made more money each year as a full tithe payer than each previous year...and i have more, too

Palerider · #6 (**permalink**) 07-09-2006, 09:03 PM

Quote:

<div class='quotemain'>
Easy: Don't pay your tithing. Take that money and invest it.

I cannot believe how much money I have now that Im no longer LDS. We can finally enjoy life, instead of watching the church mispend our money in stupid million dollar "meetinghouses" and temples.
[/b]

hmmm.....i've made more money each year as a full tithe payer than each previous year...and i have more, too
[/b][/quote]

I agree with you....and we even support our son on his mission each month.....so no....Don't stop paying tithing......you are right on Miztrniceguy

Jason · #7 (**permalink**) 07-09-2006, 10:59 PM

Uh huh. And im sure you're getting nice raises too. However, it seems that the OP's hubby is not receiving raises, and therefore it makes good economic sense for them to stop paying tithing.

Unless you can prove that money is just appearing in your wallet out of thin air?

boyando · #8 (**permalink**) 07-09-2006, 11:40 PM

I have all my life looked at the things I don't have and I have spent very little time on what I do have. I have also met people who have purchased a large motorhome or the biggist boat in the neighborhood and not be able to afford the fuel to get them out of the driveway.

You don't seem like the type to do either.

My advice is to count your blessings, pay your tithing and the Lord give you every blessing that you are able to receive.

Anouther thing that you may want to do is too stop asking for patience in your prayer's. If you ask for patience, the Lord will teach you patience, by giving you things to be patient about.

Sounds like you have a pretty good live. Your children will not always be in your home (with a little luck). There will be time for saving and all the other blessing you seek.

I forget who said if you wan't a better income, double your fast offering's. I'm prettysure that it was a GA.

Thanks for letting me ramble - Allmosthumble

Josh M · #9 (**permalink**) 07-09-2006, 11:47 PM

Quote:

Uh huh. And im sure you're getting nice raises too. However, it seems that the OP's hubby is not receiving raises, and therefore it makes good economic sense for them to stop paying tithing.

Unless you can prove that money is just appearing in your wallet out of thin air?

[/b]

Of course it makes sense for someone who doesnt believe in the same teachings and commandments of God to stop paying their tithing. Im sure you think that a person is better of with 1000 dollars than 900. Its a fact people recieve blessings by paying their tithing whether you believe it or not. But to some of us, you suggesting someone to stop paying tithing is like asking us to stop eating, or go shoot ourselves in the foot....repeatedly...

Newcastlemom, if I could suggest anything to you it would be to always pay you're tithing. You cannot afford to not pay that fundamental principal that this church greatly needs to do the work that needs to be done. Some may think its a wasteful thing to do with money (as you can see from Jason) but I can assure you its not. With all the things God has given me, I wouldnt be any better than the devil himself if I selfishly horded all of my income, because of the knowldge I possess.

One thing that I am starting is an online business. Hopfully this will help me bring in a few extra dollars here and there for my mission. If you have the ability to do this, i say go for it. You dont have much to loose with an online bussiness.

Heather · #10 (**permalink**) 07-10-2006, 01:15 AM

Hmm, we did a few years without tithing, and then started paying full again. Within 6 months we were making 60% more than what we were making previously, based on a few things Jason would attribute to mere "luck" I suppose.

I think I'll stick with the tithing route.

As far as saving, I think that you need to start the moment you start making money. 401k is awesome, especially when the company matches. My husband's company also has a espp and lets us purchase stock at a discount.

As far as extra spending money, sell on ebay and amazon. Amazon is really good for books/movies/anything with a upc/isbn. If you have a ton of stuff to sell, sign up for their Pro Merchant account and sell everything you need to within 2 months. (You can sell at a discount rate with the Pro Merchant. It's $20 for the first 2 months, and then $40 starting the 3rd month.) List everything 1 cent less than the lowest person and it will go really fast. (Be careful though, I got a bit overloaded with that once.) Get a Paypal account and ship all of your orders through there. (Cheaper delivery confirmation.) Use this link: https://www.paypal.com/us/cgi-bin/webscr?cmd=_ship-now

And if all else fails, ask for a raise: http://a.abcnews.com/GMA/Careers/sto...1898808&page=1