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  1. #1 Financial Friday 
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    Rainy in Washington today, as we await the Shutdown Apocalypse.

    TOTD: Would you be affected in any way by a Federal shutdown? In any case, with all the talk about people living "paycheck to paycheck", how long could you keep going without one? (Two years, in our case, if one of us was affected; one year if we both were - and that's without any lifestyle changes. If we cut back... indefinitely).
    "Today, [the American voter] chooses his rulers as he buys bootleg whiskey, never knowing precisely what he is getting, only certain that it is not what it pretends to be." - H.L. Mencken
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  2. #2  
    It's foggy out here but that should clear out and we might be in the high 60s.

    TOTD: We have to interact with EPA so I suppose some of those clowns might disappear during a furlough. Small loss since they take 3 weeks to return a freaking phone call.

    We don't live paycheck-to-paycheck. We've actually gamed this scenario and if push came to shove we could get by well on one paycheck or indefinitely with some lifestyle changes if we lost both jobs. We already have alternative income streams which aren't producing anywhere near their potential right now but they easily could if we had the time to devote to them (as we would if we were unemployed). Mostly this kind of thing would delay some of our financial plans.

    We are devoted followers of Dave Ramsey's approach to day-to-day finance. ;)
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  3. #3  
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    Quote Originally Posted by Gingersnap View Post
    We are devoted followers of Dave Ramsey's approach to day-to-day finance. ;)
    We are too - we'd actually done everything he prescribes by the time we discovered him, so it's nice to have the verification. Just some of the pesky mortgage is left.
    "Today, [the American voter] chooses his rulers as he buys bootleg whiskey, never knowing precisely what he is getting, only certain that it is not what it pretends to be." - H.L. Mencken
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  4. #4  
    Quote Originally Posted by linda22003 View Post
    We are too - we'd actually done everything he prescribes by the time we discovered him, so it's nice to have the verification. Just some of the pesky mortgage is left.
    Ditto for us although we are almost the only people we know (at our age) who are looking at closing out the mortgage in a couple of years. And this will not be the first house we've paid off. What's sad is that we know a number of people who actually make more money than we do but they are in precarious financial shape. They just can't face the 'beans and rice" lifestyle long enough to get back on track. :(
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  5. #5  
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    Rainy, cloudy, slight chill here. Hoping for sunshine tomorrow, as I'm doing another leg of my AT trek.

    The federal government shut down will not affect me. My father worked for the feds, so I remember clearly the issues in the household when this came up, as well as every time there was an administration change there was a concern that he would lose his job.

    I could live pretty much indefinitely if I received no further income at this point. My biggest expenses each year are my taxes and funding my 401 k plan. At this point my mortgage deduction doesn't give me a significant tax break, so I'll probably get rid of it this year.

    I'll have to take a look at Dave Ramsey some day. I'm not very good with financial planning, I just happen to be fairly low maintenance and "the other shoe will drop" kind of person, so my expenses, needs, and wants are pretty basic. I realized at a young age that counting on someone else as your financial safety net is a pretty bleak outlook, so I've never really stretched financially. Even when I first bought my house it wasn't much of a stretch for me to make the mortgage payments. I probably should buy a second house now, with this kind of market, I'm just too lazy for the aggravation of double home ownership. Plus, I don't take enough time off from work to properly enjoy it.
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  6. #6  
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    Rainy and crappy today. Good thing I cut the grass yesterday.


    TOTD: For some reason my wife and I struggle with money. I make a decent living and by all accounts, we shouldn't be. My wife makes a paycheck but it's about 30% of what mine is mostly because we made the decision that she work from home in anticipation of adopting a child. We get our bills paid but there's not much left over at the end of the month. We are starting to cut down non-essentials. For example, my 2 year cell phone contract is up this month and we're thinking about pay as you go as opposed to a out and contract because right now we pay $125 a month and don't use our phones nearly as much. Also, my wife is becoming quite the coupon shopper. She'll go shopping just by the coupons she has and has brought home 5 bags of groceries while paying only around $20 so that is a help. Anyhoo, any tips on how to stretch our money?

    Oh, and the federal shutdown won't affect me directly.
    The Obama Administration: Deny. Deflect. Blame.
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  7. #7  
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    Cloudy. Warm. Nice. Think I'll do a little work outside today.

    Following Ramsey is a good idea. We've paid for our house, and the two that we rent out generate income.
    We could go forever and not be affected by a gov't shutdown. And we're both retired. I suppose that would mean that we won't get the SS check on time, but that won't matter for years.
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  8. #8  
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    Quote Originally Posted by NJCardFan View Post
    TOTD: For some reason my wife and I struggle with money. I make a decent living and by all accounts, we shouldn't be. My wife makes a paycheck but it's about 30% of what mine is mostly because we made the decision that she work from home in anticipation of adopting a child. We get our bills paid but there's not much left over at the end of the month. We are starting to cut down non-essentials. For example, my 2 year cell phone contract is up this month and we're thinking about pay as you go as opposed to a out and contract because right now we pay $125 a month and don't use our phones nearly as much. Also, my wife is becoming quite the coupon shopper. She'll go shopping just by the coupons she has and has brought home 5 bags of groceries while paying only around $20 so that is a help. Anyhoo, any tips on how to stretch our money?
    Have you ever done an actual written budget? Written down on paper where every dollar goes? This is an interesting exercise and we do it every once in awhile even though money is absolutely no issue for us these days. It's good discipline.
    Starting on the first of the month, write down everything you spend, where it all goes. Every cup of coffee, every trip to the dry cleaner. By the end of the month you may be surprised to see where it all went, and you'll have an authoritative list of expenditures. You can then use that list to see where you can cut and where you can reallocate.
    "Today, [the American voter] chooses his rulers as he buys bootleg whiskey, never knowing precisely what he is getting, only certain that it is not what it pretends to be." - H.L. Mencken
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  9. #9  
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    Quote Originally Posted by linda22003 View Post
    Have you ever done an actual written budget? Written down on paper where every dollar goes? This is an interesting exercise and we do it every once in awhile even though money is absolutely no issue for us these days. It's good discipline.
    Starting on the first of the month, write down everything you spend, where it all goes. Every cup of coffee, every trip to the dry cleaner. By the end of the month you may be surprised to see where it all went, and you'll have an authoritative list of expenditures. You can then use that list to see where you can cut and where you can reallocate.
    Good tip. Also, I would suggest using actual cash (the green kind) for every day expenses as much as possible. I use my debit card, and on the few occasions that I've decided to use cash instead I find that I spend much less, as it is more "real" to me, than just a swipe of the card.
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  10. #10  
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    Warm and sunny in Bayou Land

    TOTD: My house is paid off and my expenses are low. I am retired and could live indefinitely just off of my current investments. Ramsey got it right about debt and real estate but he got it wrong about gold and silver which is going bonkers. The hot money is going into oil and metals.
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