Thursday, April 10, 2008

Moving Day has Arrived...

Hey All – I’ll be taking a blogging “vacation” for a few days that is if you call moving a vacation.

Right now I’m sitting on the floor of my apartment with my walls all puttied up, my boxes are stacked sky high, and my power soon to be disconnected waiting on the moving truck to arrive to take all my worldly possessions and transport them up to Atlanta.

Since I have a few minutes I thought I’d share with you all the cost of moving so you can see how expensive a move is. I’ll have to get the real totals later next week after everything settles down.

Moving Truck and Labor - $1,500

Non refundable Apartment Deposits - $400

Refundable Apartment Deposits - $200

Cable/Internet Set Up Fees - $65

Electricity Transfer Fees - $30

Lease Transfer Fees - $350

Gas Set Up Fees - $25

Misc. Allowance - $300

Being back in Atlanta with my family and friends….Priceless.

Well that’s it from me for a while until my internet connection is up and running in my new apartment.

Wednesday, April 9, 2008

How 10 minutes saved me almost $200 a year.

This week’s Monday Money Funny about cell phones promoted me to follow some of the advice I’d found about how to lower your cell phone bill by reducing services.

I pull out my last bill and discovered I had over 7,000 unused Rollover minutes with my current cell phone I couldn’t believe how many unused minutes I had, its over 7 months worth of talking that I was wasting, so obviously I’m paying for more service than I need. I decided I need to find a plan with less minutes and of course one that would save me money. First I double checked to make sure there would not be any consequences for changing my contract provided I stay with my current provider, fortunately there are not so I’m free to change my plan.

My current monthly phone bill is $55,12 which is for a plan that includes 900 any time minutes, unlimited nights & weekends, unlimited Mobile-to-Mobile, and 200 text messages. To start looking for a new plan I went back to my last 6 months of cell phone bills to see range of minutes used.
Per months I use:
Any Time Minutes: 288-397
Nights and Weekends: 157-463
Mobile-to-Mobile: 1275 – 2754
Text Messages: 13-48

Armed with this data I went on line and investigated other plans that would fit my ranges. I found one with 450 any time minutes, 5000 nights & weekends, unlimited Mobile-to-Mobile, and 200 text messages for $44.98 plus fees and taxes after I deducting my 24% preferred employer discount the total cost would be $34.18 plus fees and taxes – I’m estimating with fess and taxes my new phone bill will be around $40. That’s a saving of $15 a month, which is a savings of $180/year for spending about 10 minutes worth of work – if only my billable rate at work were this high. :)

Tuesday, April 8, 2008

This Future Millionaire's Drive to Save

This post has been sitting in my draft box for quite some time. I’ve been hesitant to post about this because it’s a little of an over share about my family life but I’ve already mentioned a few times about how my family’s money management has shaped me and I’m over sharing about everything else on this blog so I figured I’d go all out and actually post my family’s financial warts and all. So here it goes…why I’m so adamant about being financially responsible and saving…


To understand my drive for saving I’ll start before the beginning of time. Okay, maybe not quite with Adam and Eve but I will start before I was born. In past posts ( Income vs. Goals, Is everyone in Debt?, and Family and Finances) I've talked a little bit about my family so you probably have at least a picture of what my family is like but this is the post where I’m going to lay it all on the table, the good, the bad, and the ugly.

I come from a family headed by a divorced single mother who’s a school teacher. Growing up we were middle class surrounded by extreme wealth and McMansions, but felt like paupers in comparison. We lived in one of the wealthiest counties in the country; in fact my mom who still lives there recently sent me an article about how our county is the 8th wealthiest in the US. I really think my mom’s and our family’s outlook towards money and possessions would have been a lot different if we’d lived in a different area, but the schools there are some of the best and they paid a lot better than the surrounding areas so it was a win-win for both my brother and I for education and for my mom with salary.

My mom in contrast comes from a very privileged and wealthy background. Growing up her family was one of the prominent families in her town; they belonged to the country club, lived in a very large home and drove corvettes (yes – sickening as it is her first two cars were both brand new corvettes). My mom continued this lifestyle through college and her early career years thanks to the support of her dad. I don’t know how long this support would have continued but we’ll never know because my grandpa passed away when he was 51 and my mom was only a few years out of college. While he was a smart money man, a banker in fact, he did not leave anything specifically to my mom, rather everything was left to my grandma B who has her own money issues.

My grandma B then stopped supporting my mom, my mom thinks this was because my grandma B wanted all of the money for herself – which knowing my grandma B I can believe, but my mom was a grown woman at that point and should have been taking care of herself financially anyway. Over the next 20 years my grandma B proceeded to use up every last penny and then some of the money my grandpa left - the man passed with considerable savings his liquid and portfolio estate was about 6 times what I plan to have saved to retire upon plus he had a pension. After the money was gone my grandma B got into substantial debt, her mother, my great-grandmother “Nanny”, who was on her last years bailed my grandma B out of debt and started supporting her lavish lifestyle (yes that’s right my 80+ year old Nanny started supporting her 60-something daughter) and eventually my grandma B inherited 80% of my Nanny’s estate, my mom received the other 20%.

Unfortunately, Nanny’s estate didn’t last my Grandma B long either. Just before my Grandma B passed away she had to declare bankruptcy because she had a 6 bedroom house filled with purchases, in fact all of the rooms, including her very own bedroom you could hardly move in let alone find a place to sit because she’d had them piled with purchases she made but never used. After her death my mom was the beneficiary of her life insurance (to be honest I’m really impressed she kept up the payments on the life insurance). Because of the life insurance my mom was able to pay off all of her debt and have an emergency fund.

All growing up I saw my mom’s struggles with finances, primarily because she didn’t account for that fact that her income was less than her wants. And I saw the effect of over consumerism first hand, we had a house jam packed with stuff while my mom struggled to juggle bills each month and stretch the last of the milk by adding water or other odd little tricks when the week before we’d just eaten dinner at a 4 star restaurant – it was always one extreme or the other. We never lived the “poor” life by any means, there are so many people everyday that truly struggle to make ends meet, our family’s issue was just wants not meeting income.

I think my mom kept getting into debt because I don’t think she ever could quite accept that this wasn’t going to be her future lifestyle no matter how much she wanted. She could never quite accept that it couldn’t be a self-sustaining lifestyle when you’re a single parent on a teacher’s salary with occasional child support payments. While I think my mom could have help this situation I realize its very difficult for her to let go of how she grew up and I’ve come to accept this as a fact of life. I will give her credit thought for trying; growing up each year it felt like we were getting poorer because expenses would be trimmed each year in an effort to make our lifestyle closer to what my mom’s income was but it was more like a diet instead of a life style change and one big splurge was all it take to start the binge back up.

When I was a child I always had the cutest designer clothes – it was one of the things she took great pride in, in fact she still harps at me if I’m wearing nice/cute no name shirt instead of a “real shirt” as she calls it. I admit when I was younger, maybe even as late as middle school I benefited from my mom’s spending ways, we’d go to a store and I’d pick out a toy or whatever and ask for it and my mom would always consent and some times even want to upgrade what I’d chosen. After I became conscious of the consequences then it was a different matter. I would beg my mom to put back some of her purchases because I knew the stress and heart-ake she’s have later over this when the credit card bill would come or time to pay the HELOC used to refinance the first CC debt pay off attempt.

While my mom was heartbroken when her mother passed about a year and a half ago, receiving the life insurance from my grandma B was a wonderful new start for my mom and she was so excited to finally get out of debt because she did realize the burden it was placing on herself. A similar thing occurred after Nanny passed away and my mom received her estate but my mom assured me and herself that this time it would be different. However to date my mom’s back in consumer debt because she still hasn’t adjusted her wants to her income so in her words she just can’t make ends meet. I know all the intimate details of my mom’s finances primarily because I try and help at her request with budgets, financial planning etc and I know if she scaled back (as in only go shopping once a month for clothes and not every week or cut back from the $200 cable package with all premium channels she doesn’t watch to the $75 family package) she could make ends meet. My mom is close to retirement, in fact she could retire next year and receive her full teacher’s retirement benefits however she won’t because there’s no way she could support herself let alone continue to pay off her new debt.

I truly love my mom with all my heart, and I know this post seems a little harsh on my mom but to honestly answer the question about why I save I have to tell you about my mom because I save because of her. I don’t want to end up like my mom financially (in all other aspects I would love to be like her, in fact honored to be like her) and I don’t want to end up like my Grandma B either. I don’t want to have the financial stress that my mom had, I don’t want to be embarrassed to have people over to the house because its so filled with stuff you can’t move, I don’t want to be forced to work as I start to reach retirement years because I didn’t save enough or am so in debt that I have to keep working to make ends meet.

The future I seek is one of financial freedom and to have financial freedom I have to live below my means, continuously save, be debt free, and be happy with the lifestyle I’ve chosen. I am very happy with the life I lead, I take great pride in my home and how its clutter free, I take great pride in seeing my bank account grow rather than the growth of my home or possessions, and I take great pride in knowing that if I continue on this track I can retire early, if I want, and without worry. I also take pride in knowing that I’m doing this on my own - I put myself through college and have never received any financial aid or support from anyone. With the life style I’ve chosen I may never have every single consumer good people dream about but I will have peace of mind --- to me the only thing I’m sacrificing is stress.

So in a nutshell that’s what motivates me to save, I hope this post provides you a little more insight into who I am. What motivates you to save? Don’t worry you don’t have to lay out all your family dirt to answer like I did.

Monday, April 7, 2008

Tagges for 7 Random/Werid Facts

I was tagged by Mom at Wide Open Wallet to share 7 random or weird things about myself. So lets see…some random and weird stuff about me:


  1. I have never learned how to swim.
  1. When I was in high school I jumped off of an old bridge that was 15 feet above the surface of the water and dove/sunk into the Chattahoochee River. I realize fact 1 and 2 don’t go together, but for some reason when peer pressure set in I thought it would be cool – hey I’m still here to tell about it so it couldn’t be that bad.
  1. In college I walked thru a drive thru because the main dining area was closed and my girlfriends and I were desperate for some chocolate. The fast food place called the cops on us. Once Deputy Sheriff Bud arrived, he graciously drove thru the drive thru and bought my girlfriends and I frosties.
  1. I once had to be "rescued" by the Swainsboro Fire Department because I got lost in the two stop light town, and yes the fire truck came with lights flashing. In my defense the friend I was visiting in Swainsboro was a volunteer fire fighter.
  1. I’m a huge neat freak – I scrub my counters twice a day and vacuum at least every other day even though I take my shoes off at the front door.
  1. Despite living 4.5 hours away last football season I still managed to attend every Georgia Tech home game. --- Talk about being loyal to the team! Go Jackets!!!
  1. I am USDA certified to inspect food salvage, so basically I took a two-day class and a 100 question test so I can pick through other people's garbage. Don’t worry I’m not that weird, its for a good cause – I volunteer at America’s Second Harvest weekly and run their food salvage in the evenings which connects salvaged food with those most in need. I firmly believe that the cure for world hunger has been discovered, we just need the resources (aka volunteers) to make it happen. Not all volunteers need to be USDA certified so if you’d like more info about this very worthy cause or to sign up to volunteer please visit either Valdosta Food Bank or Atlanta Community Food Bank maybe I’ll see ya there.

Alright--- I’m getting off my cure for world hunger soap box and am tagging….

anyone who wishes to be tagged by commenting on this post or emailing me...that way there's no pressure for you to carry on the chain post:)

Rules:

1. Link to your tagger and post these rules on your blog.

2. Share 7 facts about yourself on your blog. Some random, some weird.

3. Tag up to 7 people a the end of your post by leaving their names as well as links to their blogs.

4. Let them know they are tagged by leaving a comment on their blog.

Monday's Money Funny - Cell Phones

One of the regular features on my blog is "Monday's Money Funny" which are humorous (at least to me) articles/jokes/just about anything that I've discovered over the weekend when I catch up on all my on line reading that spark a need for knowledge. For example the week before last’s was a helicopter pad being installed on the roof of a Hilton Garden Inn.

This week I thought I’d share an article from MSNBC the discusses how to choose a cell phone for your business needs.

Here’s some highlights from the article:

“Cell phones are becoming so complicated these days, just calling a business contact takes a bunch of strokes, beyond just dialing the number. And I keep hitting the stupid speaker button on my iPhone with my cheek, allowing everyone near me at the supermarket to hear my conversation while I’m ordering cold cuts.

Small business owners must be at their wits end when it comes to all the options cell phones offer these days. What’s right for your business? Is it worth getting 3-D maps, or voice controls, or GPS?

These are just a few of the new options phones are starting to offer, according to a Wall Street Journal story that ran this week.

But it got me thinking about whether having a phone with a nannycam is really something any business needs.”

I had to kind of laugh a little at the article – I mean shouldn’t it be pretty obvious to get the phone for your needs and not pay for the extra’s you don’t need. But then I started thinking, I received my phone bill last week and I have over 5000 roll over minutes so obviously I’m paying for extra’s I don’t need

So I did a little research and not just about minutes but also on other ways to save on you cell phone so here’s a few good articles for you to explore to help lower your cell phone bill.

Compare cell phone plans http://www.cell-phone-plans.net/

9 ways to save on your cell phone http://tech.yahoo.com/blogs/null/25682

E how – how to save money on your cell phone bill http://www.ehow.com/how_2199438_save-money-cell-phone-bill.html

Stay tuned for next week's Monday's Money Funny. If you run across any Money Funnies please email them to me at future.millionaire.blog@gmail.com and if I use them I will give you credit and link to your blog.

Monday's Money Funny - Cell Phones

One of the regular features on my blog is "Monday's Money Funny" which are humorous (at least to me) articles/jokes/just about anything that I've discovered over the weekend when I catch up on all my on line reading that spark a need for knowledge. For example the week before last’s was a helicopter pad being installed on the roof of a Hilton Garden Inn.

This week I thought I’d share an article from MSNBC the discusses how to choose a cell phone for your business needs.

Here’s some highlights from the article:

“Cell phones are becoming so complicated these days, just calling a business contact takes a bunch of strokes, beyond just dialing the number. And I keep hitting the stupid speaker button on my iPhone with my cheek, allowing everyone near me at the supermarket to hear my conversation while I’m ordering cold cuts.

Small business owners must be at their wits end when it comes to all the options cell phones offer these days. What’s right for your business? Is it worth getting 3-D maps, or voice controls, or GPS?

These are just a few of the new options phones are starting to offer, according to a Wall Street Journal story that ran this week.

But it got me thinking about whether having a phone with a nannycam is really something any business needs.”

I had to kind of laugh a little at the article – I mean shouldn’t it be pretty obvious to get the phone for your needs and not pay for the extra’s you don’t need. But then I started thinking, I received my phone bill last week and I have over 5000 roll over minutes so obviously I’m paying for extra’s I don’t need

So I did a little research and not just about minutes but also on other ways to save on you cell phone so here’s a few good articles for you to explore to help lower your cell phone bill.

Compare cell phone plans at cell-phone-plans.net

9 ways to save on your cell phone from Yahoo

E how – how to save money on your cell phone bill

Stay tuned for next week's Monday's Money Funny. If you run across any Money Funnies please email them to me at future.millionaire.blog@gmail.com and if I use them I will give you credit and link to your blog.

Sunday, April 6, 2008

Weekend Round-Up

This has been a very busy week for me with packing and preparing for my move to Atlanta come Thursday, but despite all the packing I've been able to read some very interesting posts from my fellow PFBloggers -- I hope you enjoy them as much as I did.


Kevin @ No Debt Plan shares a personal story of attempted Identity Theft -- I hope its a lesson to all of us not to provide any personal information over the phone.

Living Almost Large shared her and DH's net worth update for March and I have to say this Future Millionaire is dang impressed. Seeing her stats helped remind me that while I think I'm doing a great job of saving there's plenty of room for growth.

Mom @ Wide Open Wallet joined me in responding to No Credit Needed's question about Financial Strength and Weaknesses. Hopefully we'll both find ways to break out of our shells and not be so conservative in our investments.

Get Rich or Die Trying's JB shared how thinking his car needed repairs saved him from a bad financial move.

For those of us who are slightly jaded with all the housing/mortgage meltdown stories, check out Seb @ Pinching Copper's post about how there are no victims in the housing bust.

Jonathan @ Master Your Card shared The College Student's Guide to Credit Cards. I too wish there had been a Banking 101 course offered in High School.

The Social Margin's Cinder posted an amazing article about Planning for your future with out Social Security- Starting Younger. I really appreciate the post and used it as a check list for ensuring I'm on the right track. I'm on tack with Steps 1-3, but a re-occurring theme for this week is that I need to work on Step 4 investing.

I also thought I'd add a round-up from outside of PFBLOGGERS and that's Single Guy Money's post about how his Childhood has influenced his finances. Not only did it help clarify some of his money moves but it also has given me courage -- for the past 2.5 months I've had a draft post sitting in my box about why I save and haven't posted it because it's rather personal about my family - specifically my mom. But after seeing Single Guy's courage to post about his family background I'm going to dust off the post, double check my editing and share it with you all on Tuesday (after all can't miss Monday's Money Funny for the second week in a row).

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