Debt Free Direct Tour de Personal Finance, Stage 2 – Career Group – Posts 9-12

Without further ado, let’s continue on with the 2nd Stage (featuring posts from the “Job/Career” category of articles submitted) of the 2013 Tour de Personal Finance (to follow all of the action, click on the Tour de Personal Finance category link and scroll down to read all the posts involved in this subject).

We greatly appreciate Debt Free Direct for being the title partner of the 2013 event and for all their great support. If you’re interested in learning more about the help and advice Debt Free Direct offers to people in debt or their money-saving tips on how to prevent building up debt, click here.

A Quick Reminder On Prizes For The 2013 Competition

The 2013 edition of the Tour de PF will be doubly exciting because we have some very nice cash prizes to give away to the winner and also to charity to continue helping the community.

These will be as follows:

• Yellow Jersey (1st Place) Winner of the 2013 Tour de Personal Finance will receive $100 cash via PayPal.
• In addition, the Yellow Jersey Winner will also get to decide what charity they want me to donate $700 to in honor of their efforts/victory. 

To view the most up-to-date brackets of the competition, click the following link – 2013 Debt Free Direct Tour de PF Bracket

Going along with Tour de France cycling tradition, I’ve listed each competition within each stage as an “intermediate sprint” (one post versus another) along with the description provided by the blog author when the post was submitted.

Also, if applicable, I will give a brief description of the stage of the Tour de France that took place the same day as (or that has happened since the previous Stage of) the competition.

How to Vote

You can vote for the two articles (one from each intermediate sprint)  you’d like to see proceed in the Tour by commenting in the comments section below and telling which are your favorites. I’ve listed a keyword after each post title to make it easy to vote (as a made-up example, you can just comment: Sprint 1: Mutual; Sprint 2: 401k, etc.) 

Be sure to comment which one you like the best out of each set of two! Criteria for the best article is completely up to you, but you can use these factors as a guide: 1) post of your favorite blogger, 2) most interesting post, 3) most thought-provoking post, 4) most unique post, or 5) most actionable post.Here are today’s competitions:

Voting will continue until June 30th for this Stage!

Intermediate Sprint #1

• You Know What Really Sucks? Cubicles.  (Cubicles): I used to drive a $400 car, live in a cramped apartment and wear only thrift-store clothes. When people hear me tell stories from those days, they say: “Wow, your life must have sucked.” You know what really sucks? Cubicles. Consumer debt. Getting shackled due to overspending. THAT sucks much more than an ugly car.

VERSUS

• Swarming Pigeons, Dog Poop, Happiness, and $60,000 (Happiness): What does pigeons, dog poop, and $60,000 have to do with happiness? I gave up a six figures/year career to be a stay at home dad/blogger and I couldn’t be happier. If you have money and are unhappy, you’re not doing it right. Figure out what really makes you happy and focus on that. I did, and I am much happier.

Intermediate Sprint # 2

• 20 REAL Companies That Will Pay You To Work From Home  (Companies): With all the spammy work-from-home marketing we all see out there, we decided to find some LEGIT companies that actually offer jobs that allow you to work from home.  These are 20 of the best ones we found.

VERSUS

• How Coming Health Insurance Exchanges Will Drastically Impact Career And Retirement Decisions (Insurance): In the coming months, the first Health Insurance Exchanges will open, and along with them will begin a new era of personal finance decisions. For the first time, having a job to get onto an employer’s health insurance plan will no longer be a necessary requirement to have access to health insurance. Instead, anyone will be able to get health insurance from a state exchange, guaranteed, without any limitations for pre-existing conditions or the risk of cancellation due to health changes. While figuring out how to afford coverage will still be a challenge for many – though there are new premium assistance tax credits and cost-sharing subsidies to help – at the most basic level, the question simply becomes: “If you were assured of having access to health insurance and you (or your spouse) didn’t have to work where you do in order to get access to it, would you still be working and doing what you are doing now?” If your answer is “no” – welcome to the new world of health insurance!

Tour de France Daily Recap

Unfortunately, the Tour de France doesn’t start in real life until this Saturday, June 29th (we had to get started a little early this year due to the larger number of entries!).

This year’s Tour features some really cool things for us to look forward to though.

• First, it is the 100th edition of the event.
• Second, the Tour will start from the island of Corsica, the only time in the race’s history that it has visited that Department.
• Third, it will be the first time since the 2003 that the event will take place entirely on French roads (no visits to neighboring countries).
• Finally, the race features a Stage in which the famous climb of Alpe d’ Huez (one that I’ve actually done myself, and can attest to how hard it is!) will be climbed not once, but twice. I’m not quite sure how the logistics will work out with that, but it should be very entertaining to watch!

***Photo courtesy of https://upload.wikimedia.org/wikipedia/commons/0/0a/Route_of_the_2006_Tour_de_France.png

Debt Free Direct Tour de Personal Finance, Stage 1 – Career Group – Posts 5-8

Without further ado, let’s continue on with the 1st Stage (featuring posts from the “Job/Career” category of articles submitted) of the 2013 Tour de Personal Finance (to follow all of the action, click on the Tour de Personal Finance category link and scroll down to read all the posts involved in this subject).

We greatly appreciate Debt Free Direct for being the title partner of the 2013 event and for all their great support. If you’re interested in learning more about the help and advice Debt Free Direct offers to people in debt or their money-saving tips on how to prevent building up debt, click here.

A Quick Reminder On Prizes For The 2013 Competition

The 2013 edition of the Tour de PF will be doubly exciting because we have some very nice cash prizes to give away to the winner and also to charity to continue helping the community.

These will be as follows:

• Yellow Jersey (1st Place) Winner of the 2013 Tour de Personal Finance will receive $100 cash via PayPal.
• In addition, the Yellow Jersey Winner will also get to decide what charity they want me to donate $700 to in honor of their efforts/victory. 

To view the most up-to-date brackets of the competition, click the following link – 2013 Debt Free Direct Tour de PF Bracket

Going along with Tour de France cycling tradition, I’ve listed each competition within each stage as an “intermediate sprint” (one post versus another) along with the description provided by the blog author when the post was submitted.

Also, if applicable, I will give a brief description of the stage of the Tour de France that took place the same day as (or that has happened since the previous Stage of) the competition.

How to Vote

You can vote for the two articles (one from each intermediate sprint)  you’d like to see proceed in the Tour by commenting in the comments section below and telling which are your favorites. I’ve listed a keyword after each post title to make it easy to vote (as a made-up example, you can just comment: Sprint 1: Mutual; Sprint 2: 401k, etc.) 

Be sure to comment which one you like the best out of each set of two! Criteria for the best article is completely up to you, but you can use these factors as a guide: 1) post of your favorite blogger, 2) most interesting post, 3) most thought-provoking post, 4) most unique post, or 5) most actionable post.Here are today’s competitions:

Voting will continue until June 29th for this Stage!

Intermediate Sprint #1

• How to Kick Unemployment Depression in the Ass (Kick): Ever been unemployed? Ever been depressed because you’re unemployed? Without a doubt, unemployment is the most depressing thing that’s ever happened to me. Kick that depression in the ass by reminding yourself you are still awesome! This post also includes guidance to what money you might be entitled to.

VERSUS

• Confessions of a Professional Blogger: Why I Don’t Have High Paying Freelance Jobs (Confessions): I’ve been raising my rates, but I’m still not in the “big money” range as a professional blogger. Here’s why I don’t have high paying freelance jobs.

Intermediate Sprint # 2

• How to Become Self-Employed Like These Top Bloggers (Bloggers): Everyone dreams of becoming self-employed sometimes.  These top bloggers did it!  Hear their stories and see how they set themselves up for financial success post-employment.

VERSUS

• How To Handle Being Denied A Promotion After My Boss Screwed Me Over (Promotion): Sometimes, life throws you curve balls, and this year my boss struck me with an unexpected hard ball right in the gut. Find out how I reacted to the emotional and bitter truth when I didn’t make the cut for a promotion I really wanted. Then learn 10 key tips on how to handle being denied a promotion that I picked up from my experience.

Tour de France Daily Recap

Unfortunately, the Tour de France doesn’t start in real life until this Saturday, June 29th (we had to get started a little early this year due to the larger number of entries!).

This year’s Tour features some really cool things for us to look forward to though.

• First, it is the 100th edition of the event.
• Second, the Tour will start from the island of Corsica, the only time in the race’s history that it has visited that Department.
• Third, it will be the first time since the 2003 that the event will take place entirely on French roads (no visits to neighboring countries).
• Finally, the race features a Stage in which the famous climb of Alpe d’ Huez (one that I’ve actually done myself, and can attest to how hard it is!) will be climbed not once, but twice. I’m not quite sure how the logistics will work out with that, but it should be very entertaining to watch!

***Photo courtesy of http://upload.wikimedia.org/wikipedia/commons/4/49/Corsica_(Landsat_7).png

Unexpected Expenses That Increase The Cost Of College

The following is a post by MPFJ staff writer, Toi Williams, who is a professional personal finance blogger of Fine Tuned Finances. She has backgrounds in personal finance, sales, and real estate.

Leaving home to attend college is one of the most exciting times in a young person’s life.

Families plan for years to be able to pay for tuition, books, food, and housing for the student, often utilizing federal and public loans along with money saved in 529 college saving plans to make sure all of the costs are covered.

Unfortunately, there are a number of unexpected expenses that may arise that can significantly increase the cost of a college education. Planning ahead for these expenses and including them in your budgeting can greatly increase your financial security while attending college.

Here are some of the unexpected college expenses you may encounter and tips on how to plan for them:

Expenses For Replacing Supplies

While you may believe that you have purchased an adequate amount of supplies prior to attending your first classes at college, you will quickly find that you need to purchase replacement supplies on a regular basis to ensure that you have everything that you need for each class. Pens run out of ink, pencils get broken, and paper is used up for assignments faster than you may think. It is important to plan ahead and have a budget in place that takes into account additional purchases of supplies on a regular basis.

Many students make the mistake of relying on the university supply store for all of their supply needs during the time they are attending college. Since they are already at the location to pick up their textbooks, they pick up all of the other supplies they need as well. It is important to note that the prices that are found at the campus supply store may be more expensive than what you may be able to find at local office supply stores, grocery stores, or mass merchandisers. This is especially true when shopping around the beginning of the school year in late summer or early fall. To get the best price on school supplies, take the time to shop around convenient locations and take advantage of back to school sales.

Additional Class Expenses

For many classes taken in college, the only real expense is the textbook that you need to purchase for the class. However, some classes that are necessary to complete your degree may require the purchase additional books and supplies to complete the class effectively. These additional expenses may include supplementary books, lab equipment, software programs, or special electronics. Depending on the amount of stuff you are required to purchase, these additional class expenses can take a big bite out of your budgeted funds.

When budgeting the amount of money you will need for each semester, be sure to include an additional amount to cover any unexpected expenses that may be associated with the classes. A good rule of thumb is to budget an extra $80 for each class you are taking. If there are no additional expenses for a particular class, the budgeted money can be used for another class where the additional expenses are more than $80 or saved to be used for the next semester.

Health Insurance Expenses

Dormitories are breeding grounds for germs and all of the human interaction occurring regularly on campus ensures that illnesses will spread quickly. Recent changes to the health care laws allow students attending college to remain on their parent’s health insurance policies until the age of 26. However, there are many students whose parents have lost their health insurance coverage, have parents who are unwilling to continue paying for their adult children’s health insurance premiums, or are over the age where they can remain on their parents’ plans. These students will have to find an alternative to ensure that they are covered by health insurance and will be able to obtain medical care when they need it.

One option is seeing if the university you are attending offers a health plan for students. These health insurance plans give the student access to on-campus health services that can treat most minor illnesses and injuries without charge. If other treatments or services are needed, the campus health providers can refer the student to the services needed without the student incurring substantial costs. Student health plans administered by the college are typically the least expensive option for obtaining health insurance and the premiums are paid directly to the college.

If the college does not offer a student health plan, you will need to consider the different individual health insurance plans available on the open market. If you are in good health, you will be able to get a reasonably priced plan that covers preventative care and reduces the price of more comprehensive treatments. With an individual health insurance plan, you have more options for doctors and medical resources, but you need to make sure that the providers participate in the plan before receiving treatment or you may find yourself facing a hefty bill.

Expenses For Learning Experiences

Colleges provide many opportunities for learning experiences that can help prepare students for the world outside of college once they have graduated. These learning experiences may include clubs, organizations, special activities, and trips. Many of these experiences will have a nominal cost that the student must pay to participate. It is important to plan ahead so you can save the money you need for these experiences before the money is due. Otherwise, you may miss out on an activity that you would have really liked to experience with the new friends that you have made.

How about you all? What unexpected college expenses have you encountered? How do you budget for these items?

Share your experiences by commenting below!

***Photo courtesy of http://www.flickr.com/photos/vauvau/5799056895/

Debt Free Direct Tour de Personal Finance, Stage 1 – Side Hustle Group – Posts 1-4

Without further ado, let’s get started with the 1st Stage (featuring posts from the “Side Hustle” category of articles submitted) of the 2013 Tour de Personal Finance (to follow all of the action, click on the Tour de Personal Finance category link and scroll down to read all the posts involved in this subject).

We greatly appreciate Debt Free Direct for being the title partner of the 2013 event and for all their great support. If you’re interested in learning more about the help and advice Debt Free Direct offers to people in debt or their money-saving tips on how to prevent building up debt, click here.

A Quick Reminder On Prizes For The 2013 Competition

The 2013 edition of the Tour de PF will be doubly exciting because we have some very nice cash prizes to give away to the winner and also to charity to continue helping the community.

These will be as follows:

• Yellow Jersey (1st Place) Winner of the 2013 Tour de Personal Finance will receive $100 cash via PayPal.
• In addition, the Yellow Jersey Winner will also get to decide what charity they want me to donate $700 to in honor of their efforts/victory. 

To view the most up-to-date brackets of the competition, click the following link – 2013 Debt Free Direct Tour de PF Bracket

Going along with Tour de France cycling tradition, I’ve listed each competition within each stage as an “intermediate sprint” (one post versus another) along with the description provided by the blog author when the post was submitted.

Also, if applicable, I will give a brief description of the stage of the Tour de France that took place the same day as (or that has happened since the previous Stage of) the competition.

How to Vote

You can vote for the two articles (one from each intermediate sprint)  you’d like to see proceed in the Tour by commenting in the comments section below and telling which are your favorites. I’ve listed a keyword after each post title to make it easy to vote (as a made-up example, you can just comment: Sprint 1: Mutual; Sprint 2: 401k, etc.) 

Be sure to comment which one you like the best out of each set of two! Criteria for the best article is completely up to you, but you can use these factors as a guide: 1) post of your favorite blogger, 2) most interesting post, 3) most thought-provoking post, 4) most unique post, or 5) most actionable post.Here are today’s competitions:

Voting will continue until June 29th for this Stage!

Intermediate Sprint #1

• 5 Different Passive Income Ideas (Passive): There are so many different ways to make money, but so few are actually passive.  Here are five ways that you can actually earn a passive income stream if you put the work in up front.

VERSUS

• Earning Quick Cash – Ways to Earn $100 in a Day Legally Without Investment (Cash): Various tips to earn quick cash in a day without investment. This article is a compilation of bloggers feedback and lists ways to earn $100 in a day legally and without a single penny of investment.

Intermediate Sprint # 2

• Starting a Business on a Shoestring (Shoestring): You don’t have to start out in debt or have a lot of capital in order to start a business. You can do so on a shoestring.

VERSUS

• Think Like An Entrepreneur (Think): Having the mindset and thinking like an entrepreneur is the #1 key to success in life.

Tour de France Daily Recap

Unfortunately, the Tour de France doesn’t start in real life until this Saturday, June 29th (we had to get started a little early this year due to the larger number of entries!).

This year’s Tour features some really cool things for us to look forward to though.

• First, it is the 100th edition of the event.
• Second, the Tour will start from the island of Corsica, the only time in the race’s history that it has visited that Department.
• Third, it will be the first time since the 2003 that the event will take place entirely on French roads (no visits to neighboring countries).
• Finally, the race features a Stage in which the famous climb of Alpe d’ Huez (one that I’ve actually done myself, and can attest to how hard it is!) will be climbed not once, but twice. I’m not quite sure how the logistics will work out with that, but it should be very entertaining to watch!

***Photo courtesy of http://farm9.staticflickr.com/8314/7957045090_f092384087_o.jpg

Trois, Deux, Un – Let The 3rd Annual Debt Free Direct Tour de Personal Finance Begin – Let’s Give Away $800!

It’s almost July!

Hallelujah, we’ve just about made it through half the year. For me, this means that it’s just about time to do a detailed check-in on my financial, blogging, and professional goals as well as my net worth progress so far for 2013.

However, July also means that it’s once again time to break out the spandex shorts, big time trial helmets, and 15.5 lb carbon fiber bikes for the Tour de France bike race, and on My Personal Finance Journey, for the Tour de Personal Finance! 

That’s right! For the 3rd year in a row in July 2013, MyPersonalFinanceJourney.com will be hosting the Debt Free Direct Tour de Personal Finance. The Tour de Personal Finance is a month-long Tour de France-themed personal finance-blogging competition. For all of the details on how the competition works, click here.

We greatly appreciate Debt Free Direct for being the title partner of the 2013 event and for all their great support. If you’re interested in learning more about the help and advice Debt Free Direct offers to people in debt or their money-saving tips on how to prevent building up debt, click here.

2013 Tour de Personal Finance Brackets Complete!

This year, we had a record number of post submissions with a total of 64! A very awesome turnout! A big thanks to everyone for participating.

You can view or download a copy of the competition brackets to see which posts will be going head-to-head in each Stage’s Intermediate Sprints by clicking the link below:

2013 Debt Free Direct Tour de Personal Finance Bracket

The Stages will start going live tomorrow! 

This year, thanks to a GREAT suggestion from Lance @ Money Life and More after the 2012 Tour de PF, the posts are grouped together by categories instead of scattered using a random number generator. This year’s 9 categories are shown below:

• College Finances
• Side Hustle
• Debt
• Frugal Living
• Job/Career
• Lifestyle
• Psychology of Money
• Retirement Planning
• Saving/Investing

This Year’s Prizes and Charity Give Back Announced

The 2013 edition of the Tour de PF will be doubly exciting because we have some very nice cash prizes to give away to the winner and also to charity to continue helping the community.

These will be as follows:

• Yellow Jersey (1st Place) Winner of the 2013 Tour de Personal Finance will receive $100 cash via PayPal.
• In addition, the Yellow Jersey Winner will also get to decide what charity they want me to donate $700 to in honor of their efforts/victory. 

I wish everyone the best of luck, and I’m excited to see how this year’s event will unfold over the next month or so!

 ***Photo courtesy of http://upload.wikimedia.org/wikipedia/commons/e/ea/Bradley_Wiggins_19_etape_du_Tour_de_France_2012_Chartres_(cropped).jpg

When Should You Leave A High Paying Job?

The following post is by MPFJ staff writer, Catherine Alford. Cat is a freelance personal finance writer who blogs at www.BudgetBlonde.com. 

One of the main reasons that people are hesitant to change careers or leave their job is the paycheck, and first let me say, that definitely makes sense.

We all work hard to get paid so that we can do the things we enjoy. That’s the circle of life, or at least, that’s the circle of a professional life. So, the more you earn, technically the more you can save, invest, and spend.

The problem comes in when you’re in a high paying job that you actually don’t like. Dare I say, some of us might hate your jobs, and your high paycheck is the reason you’re paralyzed, stuck, and afraid to take a leap.

I’m not going to be the writer that encourages everyone to quit their careers and backpack around the world. I understand the pressure of having a family to take care of and the fear of the unknown. So, while not everyone will be able to leave a job they don’t like, there are a few instances where I think it should be considered. Here they are below:

Working Too Many Hours

If you’re in a job you don’t like, and you are constantly working, this would definitely be grounds for changing to a different career. You’re staying in your job because of your high paycheck, but you don’t even get to enjoy it! What’s the fun in that?

Remember, we only get one life. Even if you get paid less, imagine how amazing it will feel to have a few evenings off or a Saturday when you don’t have to field endless e-mails. Sometimes, our happiness is worth a smaller paycheck. Plus, wouldn’t it be nice to finally take your wife on that vacation you promised her or take your high school senior to tour colleges?

The Pros Don’t Outweigh The Cons

There are pros and cons to every job. Everyone should be able to agree on that.

Some people have great benefits while others have incredible flexibility. Maybe you get a high paycheck, but you have to work 80 hours a week. Maybe you get endless airline miles from your business trips, but that means less time with your family.

Whenever you are deciding to stay or leave your job, make a list of pros and cons. Add to it over the period of a few days. Think about it, share it with those close to you, and let that help you in your decision.

Perhaps you’ll find that you have way too many pros on your list to leave your job, but the other more exciting side of the coin is that you just might realize there are other possibilities to pursue.

There’s No Room for Improvement

Another valid reason to leave a high paying job is if there is no room for improvement. Sure, you’ve been promised a raise or an even higher paying job, but do you think it’s going to happen?

There are all sorts of reasons why you might not move up in a company. Politics is the biggest reason. Perhaps the CEO’s child is set to take over the company and so it’s highly unlikely you will run it one day. Or, maybe your boss loves you but their boss has disliked you ever since you accidentally took their parking spot on day one.

I know that some of these reasons might not seem substantial, but it’s important to take a hard look at your current position and the people you work with and be honest with yourself about your chances for promotion.

Your Spouse is Over It

Many people wiser than I am have talked about the importance of family and how no job is worth their disappointment. If your spouse is putting pressure on your to quit your high paying job, it’s important to listen to their concerns.

Your spouse knows you better than anyone else, and they can see changes and differences in attitude better than others.

While you may be unable to quit a job you don’t like because you need your paycheck to pay your bills, having an honest conversation about your career path with your spouse is a good first step to exploring possibilities for the future.

It’s Up to You

Ultimately, it’s important to know that this decision is really up to you. You’re the one that has to wake up every day, get dressed, and head to work. You’re the one that has to pay your bills, and you’re the one who has to interact with your coworkers every day.

Quitting a job is no easy feat, especially if you are several years into your career. However, as evidenced in this post, there are a few reasons why you should consider it even if you are pulling in a high paycheck.

How about you all? Have you ever quit a high paying job? What are some other reasons people should consider switching careers?

Share your experiences by commenting below!

***Photo courtesy of http://farm1.staticflickr.com/144/321697588_e6f0478fbf_z.jpg?zz=1

How to Save Money AND Get Free Shipping on Amazon With Amazon Filler Item

The following post is by MPFJ staff writer, Kelly Gurnett. Kelly runs the blog Cordelia Calls It Quits, where she documents her attempts to rid her life of the things that don’t matter and focus more on the things that do. You can also follow her on Twitter and Facebook.

If you’re a regular Amazon shopper, chances are you know the blessing and curse that is Amazon’s “Free Super Saver Shipping.”

At face value, it seems great: just purchase $25 worth of qualifying items, and your order ships for free. What’s not to love?

But if you’re like me, and you don’t always buy $25 worth of merchandise, you can find yourself in a “should I or shouldn’t I” quandary. All you really wanted was the latest book from your favorite author, which comes in at $23.99 for the first-edition hardcover. It would qualify for Free Super Saver Shipping—but you just need a measly $1.01 to be eligible.

Either you find yourself begrudgingly paying for shipping, or you find yourself gazing excitedly at your Wish List like a kid whose mom just told him he can get a candy bar in the checkout line. You were planning on waiting to buy that fun new iPhone case until you had more money for it, but now that buying it will help you save on shipping (both for it and for the book), it actually makes sense to buy it a little early…right?

Fear not, savvy shoppers. For I have discovered a fantastic site that takes away the temptation to over-purchase which, I’m sure, was Amazon’s whole reason for offering the free shipping carrot to begin with. It’s called Amazon Filler Item, and it’s about to become your new best friend.

How It Works

Let’s say you do have $1.01 left to qualify your cart for Free Super Saver Shipping. What this site will do is show you every qualifying item close to that price that will nudge your total over the top without nudging you to buy a pricier item out of the justification that it will “save you money.”

Head on over to Amazon Filler Item and type “1.01” into the box that asks you how you much you need for free shipping. The site will generate a list of items from $1.01 on up to $1.27 that qualify for Free Super Saver Shipping.

Be forewarned that you will need to do a little digging (most of the items are random pieces of hardware like nuts and bolts), but the list is only a few pages long, and it’s totally possible to find something within the $1.01 to $1.27 range that won’t be a waste of your money. (And certainly not as much of a waste as that new iPhone case would!)

For instance, you could get a wire-wound notebook for $1.04 (and you can always find a use for a notebook). You could get a window sealing kit to stop drafts and save money on heating come winter. (Saving you on two fronts!) You could pick up a new scrub brush or roll of Scotch tape (also things you’re bound to use.) Or, if you’re a handyman and you actually could stand to stock up on random pipe fittings, bearings, and other odds and ends, you’re in luck!

Since discovering this site, I’ve gotten note pads and bungee chords for tying our trunk down when transporting large items—both of which have been or will be put to use shortly. I’ve also avoided several impulse purchases I’m pretty sure I would have made if I hadn’t found these handy filler items.

I’ve also gotten the lovely feeling of beating the system, which any true bargain-hunter always appreciates.

How about you all? Are you an Amazon shopper? Have you fallen prey to the Super Saver Shipping temptation before?

Share your experiences by commenting below! 

How to Utilize Gazelle Intensity When You’re Facing Years of Debt Repayment

The following post is by MPFJ staff writer, Melissa Batai.  Melissa is a freelance writer who covers topics ranging from personal finance to business to organics to food.  She blogs at Mom’s Plans where she shares her family’s journey to healthier living and paying down debt.

CHEEEEEETAAAAHHH!!!!! 

If you’ve spent any time listening to Dave Ramsey, whether it be on his popular radio show or his Financial Peace University class, you’ve likely heard his explanation of gazelle intensity.  This explanation includes an amusing bit where he imitates the gazelle seeing the cheetah, screaming CHEEEEETAAAHHH!, and running for its life.

That’s how Ramsey advocates people paying down their debt–like a gazelle running for its life from a cheetah. 

Are you getting tired running like a gazelle?  Too bad, Ramsey’s thought process goes.  A tired gazelle gets eaten by a cheetah.

Getting out of debt is hard work, and if you want true freedom, you need to keep going strong until the debt is gone.  He even references the Bible verse Proverbs 6:4-5, “Give no sleep to your eyes, nor slumber to your eyelids.  Deliver yourself like a gazelle from the hand of the hunter, and like a bird from the hand of the fowler.”

That’s fine if you have a year or less of gazelle intensity to get completely out of debt, but for many people, paying down a large amount of debt should be more of an endurance race than a sprint.

Making Gazelle Intensity Work When You’ll Need Years to Pay Down Debt

So, if you’re facing tens of thousands, perhaps even hundreds of thousands of dollars of debt and years of hard work, how do you make gazelle intensity work for you?

• First, understand that one component of Ramsey’s gazelle intensity is avoiding any new debt.  That means cutting up the credit cards and paying in cash.  Even if you do have years to pay down debt, this is one aspect of gazelle intensity that you should embrace. You’ve likely seen friends or even bloggers who say they are committed to paying down debt, but then they let their debt increase every few months.  After a year or two, their debt isn’t much lower than it was when they started.  Make the commitment to avoid any new debt when you decide you’ll be dedicated to a life without debt.
• Second, consider being gazelle intense in spurts.  We started our debt repayment journey 20 months ago.  At the time, we had nearly $58,000 in student loan and credit card debt.  Even worse, our yearly salary was much less than our total debt.

We were gazelle intense for about 5 months before we got fatigued.  Then, we didn’t accrue any new debt, but we began to pay it down more slowly.  This let us take care of other expenses like car repairs and school tuition.

When our large expenses were paid, we became gazelle intense for a few more months.  Then we took another break.

If you have a great deal of debt to pay down, you may find that being gazelle intense for a few months and then taking a break works best.  We took a break for most of this winter, but now we’re on a four-month gazelle intense spurt.  If everything goes well, by the end of the summer, my last student loan will be paid off.

The Gazelle Intense Period Followed by a Rest Period Can Keep You Motivated

Being gazelle intense is a bit like going on a crash diet.  There is only so long you can maintain such strict discipline before you give up or worse yet, gorge yourself and gain the weight back.  If you’re gazelle intense for a few months and then ease up, you’ll likely find it easier when you’re working hard to get out of debt.

I’m certain if we would have tried to be gazelle intense for 20 months, we would have given up by now.  Instead, we’re energized to meet our latest goal of being free of my student loan.

How about you all? Have you tried to be gazelle intense in spurts during your journey to pay off your debt?  If so, did it work for you?

Share your experiences by commenting below! 

***Photo courtesy of http://www.flickr.com/photos/frted/5823429550/

This Summer I’m Telling My Kids to Charge It!

The following post is by MPFJ staff writer Travis.  Travis is a customer blogger for Care One Debt Relief Services, and also appears weekly at Enemy of Debt.  Travis candidly shares his personal journey to pay off $109,000 of credit card debt and the tips he’s learned along the way. As a father and husband he provides a unique perspective on balancing debt, finances, and family.

My wife and I racked up $109K of credit card debt by misusing credit cards.  I don’t want my fourteen year old son and eleven year old daughter to follow in our footsteps, so this summer I’m going to do something a little unconventional.

I’m going to let them use credit.

I’m not suggesting I let them become credit card swiping junkies by going on a summer shopping spree. Please, allow me to explain.

For the second summer in a row, we purchased a summer membership at a full service gym. It has a ton of activities including an outdoor pool and a huge indoor play area called The Neighborhood where kids of all ages have access to basketball courts, mini-golf, batting cages and much more.  Kids my son’s age can roam the club freely and use it as a social gathering place being dropped off by their parents and picked up after an afternoon of hanging out with their friends.

While at the club, the kids commonly ask to get something to eat or drink at one of the club’s snack shops.  Customers can pay with cash, or they can choose to charge the bill to their account and have the purchase included in their next monthly bill.

We told the kids that we will purchase two things for them each week, but anything additional that they charge will come out of their own pocket.  I’m not going to force them to charge their items, however.  If they would rather bring their own cash along to the club, or just simply not exceed the two items per week maximum, more power to them.   Otherwise, when the monthly statement arrives in the mail, we’ll go through it as a family adding up the purchases from their unique membership number that exceeds the limit.

The amount owed must be paid by the due date on the bill.

I’m using our summer membership at this gym as a financial teaching opportunity for the kids.  This gives them a relatively safe environment to see how credit is used in daily life, as well as allowing them to get a taste for the temptation of charging and not having to pay anything right away.  They can also feel the consequences of giving into that temptation.

Such as realizing buying nachos every afternoon at the pool sucked away most of their allowance for the month.

Our kids are generally aware of our situation.  They don’t know the exact numbers, but they do know that we have credit card debt, and that we are digging our way out with the help of a debt management program.  They understand we got into this situation by spending too much through abusing credit cards.  But, I do not believe they have a full appreciation as to how credit cards work, or how easy it is to misuse them.

I hope that through this exercise they will gain that appreciation, and together with the experience of what our family has gone through to dig out of debt be more fully educated to prevent them from repeating our mistakes.

How about you all?  Would you let your kids charge things on credit?  Do you think it will better prepare them for handling their finances as an adult?

Share your experiences by commenting below!

***Photo courtesy of hin255 / FreeDigitalPhotos.net

Why the Lowest Cost States Aren’t Always the Best Places to Retire

An increasingly important retirement strategy is relocating to a place where the weather is warmer and the cost of living is lower. There is considerable debate as to which states offer the most advantages to retirees, and a new list seems to come out just about every month.

Some favor low house prices, others low taxes, and still others, a low cost of living overall. This is of course an important consideration for retirees, since lowering living expenses is the critical other half of retirement planning (retirement investing being the first half).

AARP has a list of preferred states – and the reasons why they are included – on its website, which is actually provided by a site known as MoneyRates.com;:

1. Hawaii — great weather and high life expectancy
2. Idaho — low crime rate and good economy
3. Utah — good economy
4. Arizona — good weather and high life expectancy
5. Virginia — good economy
6. Colorado — high life expectancy
7. Florida (tie) — good weather
7. New Mexico (tie) — good weather
9. South Dakota — low crime rate and high life expectancy
10. California (tie) — good weather and high life expectancy
10. Texas (tie) — warm weather and solid economy

I don’t think that this list is any better – or any worse – than any others that I’ve seen, but since people tend to like lists I decided to include it here as well. It does strike me as a bit peculiar that two very high cost states, California and Hawaii, appear on the list. High cost and retirement are not usually found in the same sentence.

As is my preferred way of blogging, I’d like to take a contrary position on the idea of relocating for retirement. It’s not that relocating to take advantage of certain benefits at remote locations is a bad thing. But as a transplant myself, I would like to point out some of the downsides of relocating so that if you are considering such a move for retirement, you will be fully aware of some of the less attractive (and less reported) aspects of relocation.

Home is where the heart is – and that includes family

As I wrote above, when it comes to retirement, people often look to relocate to take advantage of milder climate and lower prices. But, there can be a cost to chasing those advantages that doesn’t involve money. If your family and friends are concentrated where you live now, a move to another state will take you farther away from them. You have to give very serious consideration to whether or not that is a price you’re willing to pay.

The greatest cost will be emotional of course, but there are more tangible expenses as well.

If you are retiring at 65 or thereabouts, you’ll probably find that you will have a greater need for support from family and friends than ever – after all, you’ll be older. You’ll also have to factor in the hard costs of traveling to visit your suddenly distant kin. In addition, as you get older you may find that you’re neither physically nor emotionally able to make the trip on a regular basis.

There’s still another factor that’s retirees often don’t consider when making an out-of-state move and it’s the inability to adjust to living in a different location. This can be especially true if you’ve spent all or even most of your life living in your current location. The prospect of taking on the unknown in retirement is exciting – but the comfort of familiarity tends to increase as we get older.

Lack of amenities that you take for granted now

If your primary purpose in relocating is to lower your retirement living expenses, you may not realize some of the amenities that you’re giving up by making the move. Consider some of the following:

Cultural amenities. The older, higher cost cities (New York, San Francisco, Chicago, Boston, etc.) that so many people want to flee in retirement, also offer cultural amenities not found almost anywhere else. If you are leaving a large city in favor of a beachfront community or small rural town, you’ll almost certainly be saying goodbye to those amenities in your everyday life. The theater, the variety of restaurants, the museums, quaint old neighborhoods, and shady parks may not be a part of life in the new location.

Medical facilities. Another common feature of high-cost cities is that the health care community tends to be very large and comprehensive. As you get older, this will become an increasingly important factor in where you live. Small, low-cost communities typically don’t offer anything close to the level of medical facilities that large cities do. Just as the case will be with visiting family and friends, you may find yourself traveling to get needed medical care at significant additional expense.

Economic benefits. This is an often overlooked benefit of living in a large, high cost area. The area is typically high-priced because it has a strong economy. While we might not think that this is important in retirement, it very well may be if you are hit by a rash of expenses that forces you to seek some form of employment in order to keep from digging too deep into your retirement portfolio. In many less expensive locations that retirees tend to favor, there may be little more than minimum wage part-time jobs available. In a large city – especially if it is your home turf – you may have significant contacts that would enable you to return to the workforce even temporarily, at a much higher wage.

Inconvenient geography

We’ve already touched upon the need to travel that comes with moving to remote locations, but there’s a lot more to geography than just travel distance.

If you grew up in a mountainous area, you may find yourself uncomfortable living in an area that is primarily flat lands. Similarly, if you grow up in a lush, heavily forested area, you may not be entirely comfortable living in the Arizona desert.

Apart from natural landscape, you may find it difficult to adjust to a small community, after living in a large metropolitan the area. While we usually think of America as being one country, life can be quite a bit different from one region or state to another, and even from one city to another within the same state.

Some people can adjust to this change fairly easily, but not everyone can. If you are really comfortable with “the way things are” in your current location, you may want to think long and hard about your ability to make what could be a radical change in a completely different location.

The weather may not be as great as is seems at first glance

Undoubtedly, there’s been a massive shift of the retirement population from cold weather climates to warm/hot climates. While that may seem like a natural move, it doesn’t always work out so neatly for everyone.

Some people find upon moving to the Sun Belt, that they never fully appreciated the change of seasons where they used to live. If you relocate from the Northeast to Florida, you’ll find out if you can handle this change pretty quickly. Not everyone can and some return home after a few years. You may discover that your primary appreciation for warm weather was the fact that it’s different from the cold weather that you knew so well. As a result, living in an area of perpetual summer may not be quite as enjoyable as you anticipated.

Where the weather is concerned there can also be subtle differences. For example, if you live in a fairly dry climate, and you move to one that is more humid, you may find it to be a lot less comfortable. It can also interfere with, or even cause, respiratory ailments.

If you plan on relocation in retirement, measure the costs – all of them

Does this mean that you should not consider relocation as part of your retirement strategy? Not at all. But if you are planning to relocate, it’s well worth doing some advance planning.

Years ahead of your retirement, you should begin investigating various locations to find the one that is most appealing to you. When you do, you should visit that area as often as you can. This is partially so that you can learn as much as you can about the area, but also so that you can develop some level of familiarity with it.

The worst thing you could do is move to an area at retirement, after having visited only once or twice. The more you visit an area, the more you’ll discover what it is about the area that you like – and what you might not like so much. Give yourself plenty of time to make adjustments before you retire.

You may find that you’ll miss your family, friends and home town too much to replace them with beaches, palm trees and perpetual summer.

How about you all? Are you planning to relocate when you retire? Have you thought about any of these considerations?

Share your experiences by commenting below!

***Photo courtesy of http://www.flickr.com/photos/teegardin/6669045131/sizes/n/in/