Mortgage Statements Are Nauseating!

My annual mortgage statement came in the mail today.  Most years, I have thrown them out with out even opening them ( I know, I am so ba-a-a-d!).  But this year, for some unknown yet apparently sadistic reason, I decided to open it. 

Over the past 12 months, we have paid only $1949 dollars off of the principal, and a whopping $12,948 in interest.  Oh but wait… the good news is… there is only 36 years and 4 months left of the amortization!  To further disgust Shawn and I, I figured out how many hours Shawn had to work to earn that $13,000… you don’t even wanna know… I wish I didn’t!!

Paying off our mortgage in record time hasn’t been on our list of financial goals, but now I am starting to wonder…  After we pay off the debt ( still making good progress!!), and start saving on a more regular basis, will I increase our mortgage payments and try to blast that huge beast?  Or will I want to relax a bit more by then? 

I can’t say for sure.  Just thinking about what else I would rather do with $13,000 has re-stoked the fire under my butt, and makes me want to buckle down even more.  Our lovely January vacation is over ( and paid for, yay!!) so now it’s time to get back to kicking that credit card !

New Year, New Budget

As this year drew to a close, my husband and I sat down to evaluate our finances and see what needs adjusting.  We’ve come to see that our budgets have been like a pendulum, swinging back and forth with equal energy between spending and extra debt payments. 

We always seemed to manage one or maybe two really strict low spending months, but then a catch up month would follow.  We can eat out of the cupboards and freezer for a month, keeping the groceries under $400, but inevitably the next month we’d be out of paper towels, toilet paper, flour, sugar, rice , potatoes, diapers and just about every other imaginable household item.  Other budget categories had the same problem.  We had no regular line for clothes, which is ok until Shawn needs new winter work boots, which come in over $200, or someone needs snow-pants or socks or whatever.  We can wear out or entire wardrobe but the stock up at the end of it is a big bill!

Shawn received a raise late this fall, so our income has changed slightly.  We sat down to work out a new basic budget, the one that we start out with each month then plan any new items we know are coming up.  We start with the same basic amounts, and then adjust for each month’s unique needs.  We wanted to make a budget that was a bit more balanced, creating a more even pace.

Our first major goal this year is to increase our donation to the church and reach a full tithe by the end of the year.  Since I blogged all about it already (Read about that here)  I won’t do more than mention it today, except to say that I will be tracking more closely the portion of Shawn’s income that is variable and working on a system to make sure I am tithing on things like overtime and bonuses.

We added planned amounts for home maintenance, vehicle maintenance and clothes.  Instead of these things being added as an “ other expense we know of” in a month when a need popped up, we will now have a planned amount.  Unused portions will be transferred into savings, still ear marked for that category and used when bigger-than-this-month’s-allotment expenses come up.

We’ve decided to save a small amount each month, instead of using all extra funds as debt payment.  We will still be paying about 10% of our income onto debt payments each month.  We have decided that the “Dave Ramsey” method of an insane pace sprinting until the finish line isn’t working for us.  We are opting instead for a marginally smaller speed, which will leave us with different options.  The small savings number will help when we want to take a summer camping trip, or pay for something like soccer or ballet.  We can spread these items out over the year instead of the month or two before they are due.

We’ll continue our renovations at a slow pace.  Saving ahead and paying for each stage will set the speed.

It is still our main debt related goal to pay off our Master Card by October when our mortgage will be up for renewal.  After that, we attack our credit line.  Recently, when regular interest rates where changed at the bank, the fees on our credit line doubled.  This will make it harder to pay off extra principal, and we are even more determined to pay off this giant mistake from our past!!

We will start paying our children allowances again.  We have tried different ideas off and on without much success this year and are still looking for a system that is the right fit for our family.  We’ve decided that it’s purpose will be to let our children practice making decisions about how to save and spend money.  They won’t be “earning” it per se with chores, but there will, in the future, be a list of extras they could do if they would like to earn more money for a goal they have.

I have gotten really slack about planning and tracking each month, and I want to make a new excel sheet to get us back on track in this area.

That about sums up my financial resolutions for the up coming year.  What are your goals this year?

Tithe

Tithe… on it’s own it’s an old word meaning a tenth, but the fuller meaning is to give back the tenth to God.  Do you tithe?

When Shawn and I started attending church, we’d toss the occasional “offering” into the plate.  Oh, we’d feel all good and generous about tossing in the odd $20.  But really, compared to the amount we were earning/spending/wasting, it was nothing.  Unlike the widow Jesus praises in the temple, it didn’t really cost us anything.

As our faith and commitment to Christ grew, so too did my conviction that this was not enough.  We began hearing a lot about this word, tithe, and it floored me.  “ What? People give that much to a church?!”.  I spoke to a lot of Christians that I knew and began exploring this idea.  Really, it’s a recognition that God gives you everything you have, including your salary, and that He asks you to return the “first fruits”, 10 %, back to Him. 

I began to question… 10 % of what though?  We talked to a lot of people about what they would consider income to tithe on.  Your pay? Definitely.  Child tax? Some say yes, others no.  That birthday check your parents gave you?  Probably not.  If you received a gift instead, you wouldn’t calculate the value and pay 10 % of that to a church.  Some do, though. Tax refund?  Again divided… if you’ve tithed only on your take home pay, this is income you haven’t yet tithed on, but if you tithe based on your gross pay, you have. That leads to my biggest question… tithe on your net pay, or gross??

Many years ago now, Shawn and I both felt that God was telling us to tithe and watch how he would bless us.  We worked up to tithing on his take home pay, my child tax and our tax refunds.  This was our personal decision and goal, and I am by no means telling you what to do, but I would also have to say that this is a very direct Biblical standard. I think this is something that each of us has to take to God, and not set our standards based on others or what they tell us.  If you feel an inkling that you should take this area of your life to God, pray about it and see what He tells you.

So, for several years, we have loved the fact that our church will direct withdraw the same amount from our account each month.  I figured out what an average month’s take home pay with everything included is and set an amount.  I don’t even have to remember to write a check!  I have, however, realized that when Shawn earns overtime, we are not great at calculating what more we should be tithing.  Slowly, an idea has been settling in my heart that we are not quite being faithful to this principle.    When I looked at the total gross income to this house, and looked at our total amount given to the church, I realized that it was under 5%, not the 10% we thought we were doing. 

Recently God has used several things to get my attention about this. Some excellent sermons at church, as well as that inner voice.  Next was a book I read called “ The Generosity Ladder”.  The author makes this point:  It’s called first fruits for a reason.  You are supposed to give this 10% first, before anything or anyone else is paid from what you make. Tithing on your take home pay is technically giving the first part of your income to the government, and giving God 10% of the left overs.  It’s not the first portion. 

As often happens when it’s a “God thing”, Shawn’s been thinking and feeling the same things.  We’ve talked it over and are in agreement.  It is our goal to work up to tithing a full 10%. 

I admit, this feels a little scary.  In a time where there is not a lot of wiggle room in our budget, working up to double what we are currently doing seems impossible. Part of me, the selfish and doubty part, would rather use this amount to pay down debt, or save or increase our monthly budgeted amounts for certain categories. However, I can look back and see how God has blessed our first efforts at this, and how I have never regretted it.  Not even once.  I can trust that He will also bless us as we seek to follow his command to give the full 10% back to Him.  This isn’t money just laying around looking for a budget column though, so we didn’t feel able to get there instantly, we need to change a lot of numbers to accomplish this.  We’ll be increasing once right away in the New Year, and then making it our goal to increase again, reaching the 10% mid way through this year.

Instead of focusing on how scary this feels, I am going to trust in God and look forward to seeing what He is going to do in my life this year.

A Lovely Little Guilt Trip

This year, I have not been able to stop feeling guilty about  Christmas presents.

Did I over spend? Nope.  I got some awesome deals, and was able to get what I wanted at prices I wanted to spend.

Am I doing some things to help those for whom Christmas can be a difficult season?  Yes. 

Have I focused our home on the true meaning of CHRISTmas?  YES.  We are enjoying celebrating advent with a Jesse Tree going through the Bible to see how it all builds towards Christ’s birth.   

So what do I have to feel guilty about?  I’ll try to put it into words.

I LOVE to give gifts.  I love to watch my children with joy on their faces as they see that they have gotten that much hoped for toy.  I enjoy giving them both toys and opportunities to do something as gifts.  This year, I have a huge pile of things that will delight them awaiting wrapping paper in my hiding spot.  Shawn is building the girls a Barbie house.  Which, to those of you who know him should read : He has another  project on the go, when it’s finished it will be huge and beautiful.  It won’t cost much, though since he can build it mostly out of pieces he has in the garage… which to those of you who know him is a whole other story!

In years past, I have restricted gifts to one for each child from us, one from “Santa”, the stocking, and one from the other siblings combined.  But you know what?  I hated that.  It put a lot of pressure on me to make sure that the gift was “the” thing they were hoping for.  If you’re only giving one, it had better be the biggest item of the wish list!  They still got piles of presents from grandparents, friends and other family members, and the pile looked huge enough! I usually ended up thinking “ Why should the grandparents get all the fun of being the ones who got the awesome toys?”.  I just felt this was the thing to do to keep Christmas from being too much about the presents, so I kept planning this way anyway. 

This year, I did not even attempt such a limit.  We have saved ahead, bought items over time and made room in the budget for several large and dreamed about items for each kid. I bought a lot of the items used, and we planned which things we could make ourselves. We even ended up with several for Bremen, who at just six months will have no idea what is going on!  We weren’t going to do much, but still, there has to be something to write in the baby book as the item he received from us for his first Christmas, and the kids would notice if Santa didn’t leave Bremen a gift and stocking.   Then they insisted they wanted to pick out something to give him too!  Now, we have many gifts for each of them.

But, as I looked at it, I wondered: Is this too much?  So many people have so little, or are not able to feel peace and joy at Christmas.  Why do I feel bad that I can give my children good gifts? 

As much as I want them to enjoy the surprise of all those gifts, I also don’t want them to think they need those things to be happy, at this or any time of year.  I don’t want them to be materialistic, always wanting more or bigger things.  I want them to happy with the simple things, enjoying what they do have.  I don’t want them to forget about the real reasons for all the traditions, but I still want to give them the gifts! Can I have it both ways?

Should I feel bad that we will celebrate an idyllic holiday complete with a turkey and piles of presents? Is giving them a pile of presents more about me wanting to be proud of what I’ve given them?  I don’t think so, but still I can’t help feeling that this year, they have way more than they need.

The mom side of me also had a panic attack when I realized I would have to find homes for all these things!!!

I want to be able to just relax and enjoy the fact that all my planning, hard work and bargain hunting have led us to a year that will delight them all.  But I keep stumbling over my own feeling that the amount of money, though it may not be large in some people’s opinions, really could have been spent more wisely.  That I could have done more for others instead. That my kids don’t need more things! And that maybe the truth is, in the end it would have been better to put the money on debt and pay it off faster, something that no doubt would have paid dividends much longer than the Littlest Pet Shop set out in the garage.  I just can’t help feeling that when it comes down to it, I have chosen the lesser thing.

How to I find balance between my desire to lavish my kiddos with gifts they are going to love and my feeling that it has all become too much?

It’s Beginning To Look A Lot Like Christmas…

…Everywhere you go!  Just kidding, I’m sure the snow is not that far off but I don’t want to think about that yet!!!  It is, however, the time of year that I start planning for my favourite holiday, which just also happens to have the potential to be a real budget wrecker!

I really enjoy giving hand made gifts at Christmas time.  I have always enjoyed planning them out and working on them.  I get the kids involved, which requires a lot of prep time on my part.  So this fall, I’ve been dreaming about this neat little sewing project.  I had planned to take the one idea and make basically the same item for all the kids on my list.  I began to plan out the pattern and was setting out to acquire the material when it dawned on me:  I don’t have time for this!

Who am I kidding?!?  When on earth am I going to sew, make hand made ornaments, and make a pile of gifts?  Our fall has felt so busy with activities, schooling, appointments and life in general.  How can I squeeze more in?  The answer is, I can’t.  Not without being a frazzled mess and getting frustrated while trying to work on the things with the kids.

So, I am facing the reality this year that I cannot make presents as I usually do.  Another change this year has been that I wasn’t out garage sale-ing this summer.  Most years I stock up on small, neat gifts at garage sales.  I’ve used these as stocking stuffers and gifts for the kid’s friends etc.    This year, though, because of Bremen being so new and little, and Shawn working so much, I wasn’t able to get out there.  I may have to plan a bit more budget for stocking items this year.  I have managed to accumulate a pile of presents from the consignment sale the mom’s group had and from a few good catalogue toy sales.  I’ve been ordering the odd thing here and there to put away.  I have a pretty good start on the presents this year, but I still have a few biggies left to plan for.

I think for the annual grand-parent gift of ornaments from the kids, I will buy a kit.  I still want the kids to make something, but I can’t put the time in to find an ornament idea and prep and pre cut all the steps.  I’m going to make it easier on myself and head to the craft store to choose a simple kit.  A brand new Michael's just opened in our city…which might just be the biggest budget busting temptation of all!!

So, Can You See Progress?

Having coffee with a friend of mine last week, we were talking about my goal of paying down debt, and she asked me "So, can you see progress?  I mean, can you see real, measurable improvement since you started?" I've been discouraged lately that our progress has been too slow, but when I took a second to think about her question, I realized that, yes, we have made huge progress in the last 14 months!  To encourage myself, and maybe you too, I thought I'd take a moment to sum up what we have achieved so far!

We have found a "budget sweet spot" that works for us.  Enough structure to avoid surprises with enough flexibility built in that we don't freak out over a few dollars over or under in a specific category.  I make a plan at the begining of the month, trying to leave a bit of room in case something does come up.  But I have given up on trying to track every single item with a software program.  I just didn't have enough time, and being behind was just one more thing to feel guilty about.  I know it wouldn't work for everyone, but this middle ground way is working really well for us - right now anyway! I no longer worry that we won't have enough to cover expenses because I have a plan to save ahead for things we know are coming up.  Less stress all around!


We are working together.  When I was the only one paying attention to the bottom line, I resented being stuck with all the responsibility and Shawn felt left our of the decision making.  Now we have more equal input on where money is allotted.  I know when we need to spend on groceries and he knows when we need to spend on vehicle or home maintenance.


We welcomed our fourth child, and made it through a pregnancy and newborn period without overspending!

We celebrated halloween, Christmas and all the birthdays in our family without overspending!

We started homeschooling and adjusting to this new way of life.

We payed off over $6,000 that was on our visa, and burned the cards! ( fun pictures here! ).

We lowered the interest rate on our mastercard, and have paid off about a third of it.  We sold some belongings to pay it off faster and continue to make progress monthly.  Our goal is to have the remaining $7,990 dollars paid off by next October.  We were so excited to get that number under eight thousand!!

We put aside an emergency fund and have been able to leave it intact!!

We have saved ahead and paid cash for all the activities our kids wanted to participate in, which at different times has included ballet, gymnastics, swimming, soccer, 4H and piano lessons.

We bought a piano and built the girls a bunk bed.

Yes, I'd say we have made lots of progress in 14 months!  We still have a long way to go, like paying off the mastercard, then tackling the credit line, but when I look back, I can really see how well we've been doing!  What's up next for us?  We'll be continuing to sell some items, working out a plan for Christmas which may include a trip to BC this year, and we need to start work on renovating our kitchen.. besides all the normal stuff!

No Fair!

No, I am not quoting two year old Lily, or that would be " No fair! Never!!" which is her newest thing... I'm talking about the summer fair.

Yup, it's that time of year again in our city, where the fair comes to town. As a kid, and a teenager, I loved the fair.  Shawn and I would go and enjoy the rides and games, the competitions and displays... all the fun stuff that goes along with the exhibition.  Sometimes, we went everyday the fair was in town! Now, as parents, we usually dig up the cash and take the kids.  They love it, and we grit our teeth and bear the mess, noise and crowds.  But, boy, does it cost!!

Last year, at this time, we were just returning from our big trip which included a stop at Calaway park.  We decided that in comparison, the local fair would not be worth it.  Calaway was so clean, and fun and had so many great age appropriate rides.  And, it cost less!

Gate admission this year is $13, and ride bracelets are $40, tally up the various pieces we'd need for our family of six, and you get a pretty steep hit... and that's not even counting the food and games that one always manages to spend money on.  I know the fair wasn't cheap even when we were teens, but, at risk of making myself sound like a crazy old lady, I swear it's waaaaaay more expensive now!

So, we sat down and discussed it.  We looked at the budget with it's narrow margin for extras.  We decided that this year, there would be " No Fair".  I just can't justify that cost.  As much as I know this decision makes sense, I still feel a little sorry about it.  My kids feel the loss.  When a friend phoned to invite Baden to join him at the fair, I had to tell Baden that we weren't planning on going this year.  He was sad, but we were able to plan a play day with the friend instead.  A day playing at the friend's farm will be more fun anyway ( and cheaper, for sure!).  Still, I can't quite shake the guilt of not taking the kids.  I wish I could afford to take them, but in the end, I know the things I am choosing to pay for instead (piano, ballet, a week at the campground with Grandma and Grandpa) will be enjoyed longer and are more valuable experiences anyway.

Are you taking your kids to your local fair this year?  Did you budget in the cost and plan for it?  If you don't plan on it, how do you handle your kids' disappointment ( if there is any) ?

Epic Grocery Shopping Trip

Now that we are going to be homeschooling, I have been trying to figure out just what life will look like, how I will make it all work, this fall.  I've been reading lots of blogs of other homeschooling moms, interested in how they juggle running their homes and homeschooling at the same time.  One area I know I need to re-do is grocery shopping.  I've been heading to the grocery store about once a week.  But, next year, I don't think I can dedicate an entire morning each week to a grocery trip, unless I squish all the homeschooling.  I've been looking around for some suggestions as to how other moms do it.

One of my favorite new blog finds is raising arrows.  Amy is a great, inspiring writer and I have been enjoying reading through posts while nursing.  I decided to give her system a go.  Basically, she figures out how many meals they will eat for an entire month ( number of days minus how many times you normally eat out, add how many times you normally invite others over etc. ) and then grocery shopping for every item you will need.  She keeps a huge master list and writes down how many of each item she'll need in stock to make it through a month.  I could go into all the detail she does, but instead, if you are interested, head on over to her blog to check it out :)

So, with this system in mind, I sat down to think up 30 meals for a month.  A couple will get used as lunches, when we don't have left overs, and the rest will make up suppers for a month.  I planned on cereal, pancakes,fruit and yogurt or toast for breakfast, so I made sure that we had the fixings for those items.  Coming up with 30 meals all at once is harder than it sounds! Go ahead try it!  Shawn laughed when I told him it was hard.  He started tossing out ideas, but I had them all already, and we were only at 15!!  Once we had all the meals picked out, I started making a grocery list.  I made sure we'd have fruit and veggies for about half the month, and, like Amy's system, will plan on a quick trip mid month to pick up whatever fruit veggies and milk I need to finish out the month.

With my enormous list in hand, our entire family headed to the grocery store.  I knew I would never be able to accomplish this trip with all four kids unless Shawn came with us!  I put Bremen in a wrap style carrier ( more on that in a future post) so I would have free hands.  I directed the kids which items to grab off the shelves, and Shawn pushed the cart.  By the time we were ready to check out, our cart was piled taller than Shawn!! I could not even move the cart!  It was crazy but we got it all in there somehow.  Passersby actually stopped to ask Shawn if he was " one of those crazy coupon people" hahah!  The tally felt huge even though it's less than I would have spent if I had spread the shopping out during the month.

It took over an hour to put it all away when we got home, even after Shawn carried it all up the stairs for me.  We had to stash some of the food out in the commercial cooler in his shop, because we couldn't fit it all in our fridge, even though it's huge.

I have the list of meals stuck on my fridge and each day, I can pick something off of it and know that I have what I need on hand to make it.  I like having the flexibility to chose from a selection, instead of a set meal each day as I was doing before.  It allows for me to change based on how we are feeling, what we plan on doing that day and even the weather.  If it's hot, I just pick something we can cook on the BBQ.

I'm not sure yet if I will be able to keep using this system or not.  I don't know if I can accomplish the epic shop if Shawn isn't able to come with us.  The problem I face is purely space related.  If I take my stroller so the two littles can sit in it, I can't fit the groceries in my van.  If I carry Bremen, and don't have help, I don't know if I can manage Lily without putting her in the cart.  If I put her in the cart, I don't know if I can fit all the food in.  If I carry Bremen, I don't know if I can get groceries in and out of the cart easily.  I might always have to make sure Shawn can come with me, so I can carry the baby, he can manage Lily and push the cart, and the back of the van is free for groceries.  Sheesh! I may need a bigger vehicle!

I like that it helps me stick to our budget, and I like not having to go to the store each week.  For now I'm going to keep using this new system, and I'll keep you posted.

I'd love to hear how you manage your groceries??

Pay As You Go Or Lumpsum?

So many things in life now have the option to make monthly installments, and many times it makes life more convenient.  Car insurance, heating bills, property taxes, house insurance and many more can be equalized over the year so you can pay one same amount every month.  Shawn and I have opted for this so many times, but lately we've been rethinking the practice.  We're noticing all the little ways it costs us more to do it!

Kid's activities are the first area we're addressing.  Take dance for example.  Yes, you can pay a set amount for 9 months of the year, and figure it into your monthly budget.  But, if you pay the whole amount at the start of the year, our school gives you 10% off.  We've decided that next year, we'd like to pay for the things the kids would like to sign up for outright.  Why not save 10% if you can?

Not all the activities our kids would like to try offer discounts, but knowing that it's completely paid for means I don't have to figure them into our budget.  I can't end up with any fees or charges for being late either.  But, I do have to come up with a larger amount of money in one month, which will require some saving over the summer.  We're not 100% sure which things the kids will want to sign up for this fall, but we are bouncing around some ideas with them, trying to offer them some choices.  Piano and ballet are for sure already.  Scouts and certain sports are still being considered. 

Over the summer, any extra budget money, overtime or proceeds  from some of the things we are selling will go to the kids activity fund first.  When we reach the goal we've set, we'll resume paying off debts and saving for the home repairs that keep popping up. 

While we don't have the extra budget room to address all the other things we could move off of monthly payments, I did take a second to check into what fees we pay for the service.  We pay our auto insurance monthly, and yep, they charge a bit extra for that.  Did you know you can save a percentage off your city tax bill if you pay the whole amount yourself at the start of the year?  We pay ours along with our mortgage and the bank submits it for us.  Eventually, we'd like to be in a place where we have enough saved up to pay out the tax bill and move away from the installments.  The problem is, once you start paying monthly amounts, it's hard to switch.  The first year feels like paying twice! We need to save the same amount we pay that month so that when the year is over, we have an entire year's payment saved and free to use.

While we'd like to get there eventually, for now, we'll start with what we can do, the kid's activities, and go from there.  Do you prefer the monthly payments? Or do you tend to pay for those big things annually?

Brands We Love

Lately I've been thinking about how many items in the grocery store I buy based completely on brand.  Sometimes there is a valid reason, and sometimes it's just habit.  I'm sure most of us have favorites, and I've become curious about what brands other people are loyal to.

In no particular order, here are a few brands I always reach for.

Aveeno products: Mainly because no one in my house is allergic to them, so they are my first choice for shampoo, body wash and soaps as well as sunscreen and lotions.

Campbell Soup: Because my husband refuses to eat the no name stuff.  He swears he can tell the difference.  I wait until there is a good sale and buy it by the flat.

Maxwell House Coffee: We started buying it because it was the cheapest when we were in our first house, and now we just like the taste of it. Ha! It was $4 a can then, and now $10 is a good price for it!

Huggies Diapers and Wipes : They have always fit my children well, and not bothered any of the allergies.  I guess they are more expensive than no name ones, but I really like these best.

Ketchup: No name.  Lol, that's right, I prefer the no name ketchup.  I don't know why!  My parents always bought heinz when I was growing up, but I actually like the taste of the no name stuff better!

Pop: I've always been a Pepsi drinker, but after I tried Superstore's blue label wave cola ( which is their president's choice version of Pepsi) I found I actually like it better.  Now, given the choice, I would choose the Superstore pop.

Toilet Paper: since I refuse to wipe with sandpaper, I have always paid more for toilet paper.  I have two brands that I like best, Royale and Purex, and will buy whichever is cheaper that week.

Kraft Dinner: no knock offs allowed in this house.  I wait for a good sale and buy the case.

Milk: I like Dairyland better than Foremost, though I can't describe what difference there is, haha!

Hotdogs: I buy the no name ones.  I can't taste any difference so I'm not willing to pay more for the brand name ones. 

Cleaners/Laundry Detergents: I make my own :)


So, that's all my brand quirks.  What are yours? Some of mine are based on preference, and some on price, and others on habit.  Did I miss any major ones in my poll?  Take a sec to answer the poll, I'm curious!

Does This Justify Raiding the Emergency Fund?

What makes an emergency worthy of a raid on our hard earned savings fund?

This is the question on my mind today, let me tell you why.  So, our dog is getting old and has been peeing on the floor more and more frequently.  We do own a carpet cleaner, and have been able to clean it time and time again.  I won't bother to go into how much I hate this, because you've all probably heard me rant about it already, and it's totally beside the point of this post.  The second last time Jinx peed on the floor, I followed my usual routine of cleaning it up immediately with our Bisell Little Green Machine, treating the carpet with pet stain and odor remover and then shampooing it again with the full size cleaner.  (ok, technically, Shawn does all of this, I played the sensitive pregnant nose card and got out of it).

The problem is, this time it didn't work.  I shampooed several more times, and still the whole house smelled like a combination of wet dog and dog pee. Niii-iiice huh?  I kept apologizing to the kids' piano teacher, since she had to be just feet from the odor that week.  A week of nice weather so I could keep windows open and air out the house, and a whole box of baking soda later, it finally smelled ... a bit less gross.


One week later, the morning of the next piano lesson, the dog peed again.  Now, I don't think the dog just has it in for the piano teacher, but I did feel bad for her again!  It had dried completely before we saw it in the morning, so Shawn poured a bit of cleaner and water on it before starting to suck it up.  The smell was so horrid, I almost threw up and had to run out of the room.  We followed our usual procedure again, and it did not work at all.  I covered the spot with an upside down bin so the kids wouldn't walk in it ( it was conveniently right in the middle of the main living area, thanks Jinx).  I cleaned again and again.  I dumped baking soda in it, and left it over night.  I tried odor removing sprays, desperate to at least cover it up.  Nothing has helped at all.  Over a week later, it still smells so strongly like ammonia that I don't even want to sit in my living room.  And there is no way any of us can sit on the floor to play!


Now, this carpet is not in the best shape anyway.  It's original to the house (1986) and a torturous shade of off-white.  It's sculptured-textured beauty has long faded, but at least I could always get it clean, if not completely stain free.  Having carpet bothers my allergies, but it was nice to have been able to sit on the floor to play with the kids. 

Shawn's theory is that the poor carpet is just too saturated to salvage anymore.  We suspect that the dog is getting old enough that she may not be around forever.  But we can't keep living with it until she is gone.  It's now so gross, that I wouldn't be able to let baby lay or sit on the floor.

So this is why, with only about 10 days until my due date, we are having to rip out our carpet.  But then what?  I have lived with bare floor boards before.  For many years, while we renovated our previous house, we had bare floors in one room or another..or all of them.  If we're going to have exposed floor boards, though, we will have to seal them with something, so that any future accidents aren't just going right into the floor itself.  If we're going to buy cheap paint, stain or sealer, would that be money well spent, or should we just suck it up and buy flooring?  If we buy flooring, what do we get?  Do I want to settle for just whatever I can find cheap enough by this weekend, Shawn's only day off before baby's arrival? How long will it take us to replenish the emergency fund if we do?  Do I want to spend more than that and look for something I like? Do I have time for that?  Should I just seal the floor and save for what I'd like? 

Of all the reno projects on my dream list, I really didn't want to deal with living room flooring first.  But, now that I don't have a choice, what should I do?  I feel so frustrated, because there are so many other things I'd rather have paid for first, like the bench we need in the kitchen, the activities the kids want to do next fall and at least one fishing trip this summer, to name a few!

So, to answer my own question, I don't think this is an emergency worthy of breaking open my piggy bank.  I may be living with bare floors for a while, but at least they won't smell like dog pee!

What would you do?

Here's how it turned out... (Flooring Dilemma Update)

Books : To Buy or to Borrow?

For those of you who don’t know it already. I’m a bookworm.  A first class, library card carrying, piles of books all over the house bookworm.  So is Shawn.  As you can now probably imagine, there are books all over our house.  In fact, at the moment, I cannot think of a single room in our house that is NOT stocked with some books.

Over the years, we have spent more money on books than I could possibly imagine or estimate anymore.  I buy them both used and new.  I know that there are now so many ways to have e-versions of books, but it’s just not the same.  I like the feel of a book, the smell of the paper and the look of them on shelves.  We used to have a monthly budget for books ( yes, seriously) but that is something that has been cut out.

One of my favourite places to buy books was Value Village.  Often kid’s books are on sale as low as $0.25 each, and normally they are around $1.00 to $2.00 each. Buy four, and you get a fifth one free!  We used to go, and dig through the bins, finding “treasures” like old “Little Critter” books to add to their collections.  I would wander through the adult books and pick up a novel by a favourite author, or find neat reference books on topics that interested us.  It wasn’t unusual to come home with 20 books for the kids, and two or three for me. 

Another favourite of mine was online shopping.  I found great books, used and new alike on Amazon.  I also love Christian Book( www.christianbook.com).  They sell at wholesale prices, and even with exchange and shipping, their prices are great!

I have frequented the library over the years, often looking up topics I was interested in or authors I liked.  But, I was always returning things late because I wanted to re-read that chapter that had some great bit of information I wanted to remember. Since cutting out money for books, I  have completely fallen in love with my local library all over again.  I can look up any topic or book on the search engine, and they will order it in for me from wherever it may happen to be in the province ( a great new feature since the whole province joined into one giant group).  Our kids own mountains of books, but they still love library time, wandering along the shelves choosing whatever jumps out at them, or searching for a specific interest.  I love that we can still read mountains of books without spending a dime.  And now we’re there so often, I don’t usually forget to bring the books back on time.

I still like actually owning books though.  Sometimes, I just know that it’s something I’ll enjoy rereading again in the future.  Sometimes, it’s because we are studying it with our Sunday School group, or as part of a Bible Study and I know I am going to write in it.  Sometimes, it’s just an awesome reference book that I think we’ll use.

So for now, books are not a regular part of our budget.  There are special exceptions when we’re going to be studying one, or when I choose to use gift money on one.  I’ve started reviewing books, so I get some for free.  And, I’m making full use of what is already available to me for free : My Library!

Beating the Budget Busters: Birthday Party # 1

At our house we have birthday season.  Baden’s big day starts it off, and then in about 6 weeks, both girls and Shawn’s birthdays fall over four days.  During the months of February and March, we have lots of extended family members and friends who have birthdays.    Yup, it’s birthday season.  Some years, Easter even falls in there.

Most years, it’s a definite budget buster.  This year, I am setting an amount that I expect to spend and trying to stick in it.

I LOVE throwing my kids birthday parties.  Sometimes we have a big bash, and others we have a smaller crowd and do an activity.  Almost always, the party is at our house, I have never paid to rent a facility ( pool, bowling alley etc).  I think I am saving those types of parties until my kids are older.  Some of my friends have rented gyms, which I think is great.  You get lots of space and fun things to do, and you don’t have the clean up… but it’s not in the budget this year.  Recently, Baden has been to some birthdays held at our new soccer center in town.  I think it’s a great deal, for $60 you get use of the facility and lots of the equipment so kids can run and play.  A great way to burn off energy for winter parties.

I love planning the party, and choosing a theme with my kids.  This year, Baden wants to have a winter carnival.  His birthday is up first, and is what I am currently planning.  We have lots of little games planned for his friends to play.  I am using either toys we already have , or things we can make pretty easily.  Bean bag toss, Nerf gun target shooting, and fish pond are a few that we have planned.  I have have a “race car tire change challenge” that I made for Baden a few years ago.  Shawn painted a car on a huge piece of cardboard, and I glued two pop bottle necks on as “bolts”.  We made several cardboard “tires” with holes that fit over the bottle parts.  Kids have to unscrew the bottle cap, trade the tire for a new one and screw on new bottle caps.  A cute and silly little game, but very fun!  I think we’ll try face painting too.  One or two more stations and that will fill time nicely.

I planned the party to avoid any meal times.  This will definitely help keep the cost down.  I plan to have everyone over to play for about two hours.  That should be lots of time for games and cake.  I’ll make sure to have a couple snacks on hand, and probably a bit of pop.  While buying cans is easier, it’s cheaper to buy a 2L bottle and pour it into cups.

I bake the cake myself.  While this uses up lots of my time, the cake itself costs just a couple dollars in supplies, and I blend that into my grocery budget.  I usually have all the ingredients on hand anyway.  I am one of those crazy cake ladies.  I have lots of fun making big shaped cakes for my kids.  I have to get a better idea of what Baden wants today, then it will take me 3 or 4 days to bake, cut and decorate it.

I don’t do gift bags for guests.  I polled my friends informally last year, and I think most of us agree.  It’s the birthday kid’s special day, why do the guests need gifts?  The guests usually end up going home with a little something anyway.  For example, last year, Colleena had a tea party where all the girls made beaded bracelets and necklaces to wear.  They took those home.  I think that’s all that is really needed.  Since this party is to be a carnival, there will be little prizes at each station.  Baden’s friends can take these home, so I don’t feel I need to make up an official “gift bag”.

I’ve also been thinking about what to give Baden as a gift.  We’ve been reading the chronicles of Narnia books with the kids.  A local school is having a play this week, “Narnia” and I think we may buy tickets and take the kids to that.  This fits into my idea that I would like to give my kids a chance to DO things, instead of HAVE things.  We also have a few things still in hiding that would make great gifts for him.  Last summer we bought an air soft rifle at a garage sale ( I think that’s what it’s called) that shoots little plastic balls.  Shawn cleaned it all up, and I think Baden will have a blast shooting at the targets.

So far, I think I have it covered.  Venue, activities, snack, cake, prizes, gift… all taken care of.  I have budgeted $50 for party costs, and $50 for the present for Baden.  I’ll let you know if I stay within my goal!  My kids enjoy a simple old fashioned party, a chance to play together and be with their friends.  I don’t think it has to be complicated or expensive to be fun.

What do you plan for birthdays?

What Are You Willing To Pay For Convenience?

This week, I have had to pay for two things that got me thinking about this question.  I ordered cheques, and I bought a quicken program.  And since I planned neither of these things in the first place, both kinda irked me.

My banking plan does not include free cheques.  I knew this when we opened this account.  I have never sat down, however, and figured out what it costs me to have cheques.  Let’s face it, I don’t need cheques, they are just to make life a bit more convenient for me.  At one time, they were almost a necessity, I think.  I don’t need them to pay bills, I use online banking.  I don’t need them to order things from a catalogue, or online, I can use my credit card for that.  I don’t need them to inform someone of what my account number is for direct deposit or direct withdrawal reasons, I can just tell them, or have the bank fill out a quick form.  But that would be less convenient!   would have to go to the bank! 

I have only just now used the 50 cheques I originally ordered when we opened this account two and a half years ago.  When I sit and think about who I have written them to, I realize that they were all times I could have used cash instead.  I can pay my hairdresser in cash.  I can send cash for school book orders.  I can pay cash to sign my kids up at gymnastics or swimming lessons.  I have written cheques for such dumb amounts as $3.50 for a hot lunch at the school.  The reason I use cheques is because it’s more convenient for me than carrying cash. 

I don’t usually carry cash anymore, it’s just easier to use my debit card wisely.  To pay for the things I have been using cheques for, I would have to keep different denominations on hand.  It’s one thing to say I’ll have a $20 bill for when I sign up the first week of mom’s morning out, but it’s a lot more to plan on having $13.52 for a book order.

All this to say, I realize that I have been using cheques because it’s easier.  But what is that costing me?  I just ordered 50 of the most basic cheques.  No extra sayings or cute pictures.  They cost $35 including shipping, that’s 70 cents per cheque!  Ok, that’s not a ton, but it adds up.  It seems even sillier to pay that for the cheque if it’s only $3.50!  In the future, I think I will plan ahead on my way to the hairdresser’s and stop at the ATM.  I may even try to keep a bit of cash on hand for those things that always seem to come up at school like lunches, book orders, or fundraisers.  Every time i consider writing a cheque, I’m sure I’ll be thinking “ is this worth the extra 70 cents?”.

After I bought, installed and set up quicken’s “Money Manager” program, I regretted it.  Oh, it’s a great program, I have always loved the quicken line-up of software, and every year I buy their tax program for the easiest taxes ever. ( I highly recommend this!)  Since my previous quicken expired, I have created a spreadsheet which basically does the same thing for me.  I use it like a cheque register to plan and record what is going into and out of our account in a given month.  It does the math for me.  I can track what category a given purchase falls into, and create a budget planning what we will spend in each area for that month.  Yup, I’m a nerd, and I spent a lot of time on this.  Then, I got an even better spread sheet from the budgeting presentation we had at Mom’s Morning Out.  But, I wanted it to re-organize transactions by date as I put new stuff in.  Ok, I probably could have figured out how to continue tweaking my spreadsheet, or I could have asked some of my friends who are even bigger spreadsheet addicts than me.  I also like the convenience of downloading transactions straight from my on-line banking instead of flipping from window to window.  Ok, I could have done that too, I suppose, if I’d tried a little harder to figure it out.  The program has a couple of quirks that annoy me, like you can’t post transfers between accounts, so it shows up as an uncategorized transaction and keeps going back to it, asking you to put it in a category.  I don’t really like their budgeting system, I still prefer my own.  The program is worth about $40.

Even the spread sheet was the first step in “convenience”.  I used to use a paper check register, and track all of our transactions.  I can do that.

The quicken comes with a money back satisfaction guarantee, apparently, so I may still see if I can return it.  Though, since it was a program that is downloaded, I’m not sure how a return would work?  I may have to check in with some of my spreadsheet loving friends this week about the couple of things I would like to tweak…

So, that was two things this week I paid for because they were “more convenient”.  Which is just a polite way of saying I paid for them because I am too lazy to do something another way.  Have you ever paid for something and then realized you bought it only to make it “easier” or “more convenient”?  Would the alternate route have been that hard? Was it worth it?

Cost Break-Down: Breaded Tenderloin Supper

Breaded tenderloin supper is one of our family’s favourites.  Everybody gets excited when it’s on that days’ menu.  It’s usually a real treat meal for us.  So, last week, when we enjoyed it, I took the extra time to weigh or measure out all the parts and figure the cost for each component.  I’ll spare you too much of the extra math, but I will add it in a comment afterwards in case you’re curious how I got my numbers.

To bread the tenderloin, I dredge it in flour, then egg mixed with a small amount of water, then the breading. ( I can add a comment about the why and how of all the steps afterwards too). I use any sweet corn based cereal to bread.

75g flour : $0.05
125g Corn Pops: $1.33
1 egg : $0.16
3 lbs potatoes: $0.90
400g frozen corn : $0.99
250ml canola oil for frying: $0.58
Lemonade to drink: $0.67

Once I add in the cost of the pound of moose tenderloin ( which I calculated to be $0.52...if you want to know how I got that number see my post on the cost of our wild meat: Cost Break-Down of Our Family's Meat)
My actual cost for this meal was : $5.20 Wow, I guess I don’t have to feel like it’s only a treat!  That was 6 steaks and sides.  I have enough potatoes left over to fry as lunch tomorrow with the corn, I really could have cooked about half as much potatoes and corn.  I also had too much breading, but once you’ve dragged the raw meat through it, you can’t just save it for next time.  I could cut costs but simply not using as much next time.

Now, I never buy meat, but I looked at the flyers this week to see what you’d have to add if you did.  If you ditch the lemonade, and buy sirloin steaks, they are $3.99 a pound. You’re total meal cost would be $8 ( if you used a pound of the steak).  Or, the breading would be really good on chicken too.  For a pound of bone in, skin removed, split chicken breasts($3.79 a pound this week), you’re total cost would be $7.80.  Lots of these ingredients fluctuate in cost, but this is what making it this time cost me.

Additional Notes:
How I got these numbers:

10 kg bag of flour, I bought for $5.98. Divide by 100 to find the cost of 100g of flour :5.9 cents ( I rounded to 6 cents). cost of 75g of flour (6c X .75) = 5c

725g box of corn pops:$7.67. 725/125=5.8, 7.67/5.8=1.325, I rounded up to $1.33

20lb bag of potatoes = $6.00 ( I know this fluctuates, but this is what I paid for the bag I currently have) that’s 30c a pound.  I measured the potatoes I used, and got 3lbs. 0.90

250ml canola oil: $7 for 3L (3000ml/250ml = 12) 7/12=58.3  I rounded to 58c.

400g frozen corn, microwaved:2kg bag= $4.98 (2000g/400g = 5) 4.98/5 = 99c

The cost of a single egg, I had already calculated when I did bread, and the meat was also in a separate post.

Breading Recipe Directions:
I always pound the steaks with a meat tenderizer first, so they are thin and even.

I got this recipe from Alton Brown’s cook book, and I love it! It always comes out fabulous and delicious.  He has lots of great tips and tricks.

Dredge in flour first, and shake off excess. This very thin layer provides primer for the egg layer which will then cement on the crumb layer.  Dredge through egg beaten with a bit of water. This is like a protein glue that keeps your crumb coat from staying in the frying pan instead of on your plate where you want it.  Let excess drip off.  Put meat in crumb layer and cover both sides.  Let meat rest for 30 minutes, then fry. ( I put mine on one of those cookie racks so the bottom doesn’t get soggy)
You can use lots of things for the crumb layer, but our family likes any corn based cereal.  It makes it a bit sweet, which is a neat addition to the meat, and it crisps up so nicely.  I have used Cap’n Crunch, and we also like Corn Pops.  I blitz them in the food processor.
You need to get your oil up to 350 degrees F ( yes I am a nerd and I use a thermometer).  If your oil goes below 325, your food will be soggy instead of crispy.  Oil should come about 2/3 of the way up the sides of the meat when you pan fry it.

There you are, I’ve given away my secret to the yummiest breading!

Cost Break-Down: Tacos

Our family LOVES tacos.  I make it once every week and a half or so, as a special meal, say on a Friday night, as a treat.  I think it’s a cheap way for the kids to feel like we’ve eaten a fun meal.  Now right off, I know there are ways I could cut the price of this meal down, but I wanted a real assessment of what we spend when we make it the same way we always do.  I started making my own taco spice mix a couple years ago, so I had to estimate the price of the seasoning.  I fry two pounds of meat, and I know this is the fastest way I could cut costs, but for us, the meat is the main filling, and I am also trying to have enough for the next day’s lunch left over. Our favourite way to use the left over meat, by the way, is to make a sandwich with toasted bread and a slice of processed cheese on top of the meat.  Our favourite toppings are lettuce, tomato, green pepper, sour cream, and of course lots of cheese!  One more tip, is to put shredded carrots ( I’ve also heard of zucchini) into the meat while you’re frying.  It stretches your meat, and something about the carrot enhances the flavour of the spices, making your meat spicier.  You get more “meat filling” without using any more spice packs than if you just fried the single pound of meat.  It’s also one more veggie, if those are hard to get in around your table.

So here is what I spent, when I made tacos this week ( didn’t use carrots this time):

Shells (18 pack of Old El Paso): $4.29
Green Pepper: $0.52
Lettuce: $0.53
Tomato: $0.94
Sour Cream: $0.90
2 lb Ground Deer: $2.00
Cheese (200g): $2.20

Seasoning Mix (est): $0.75

That’s a total of $12.13!  
This is by far the most expensive meal I’ve broken down yet!  If you bought the two spice packs you’d need for this amount of meat at $1.69 ea (last time I looked) and you bought your two pounds of lean ground beef at the store ( for $1.78/ lb) then the total cost would be : $16.32!!

I was totally surprised by how high the cost was on this one.  In perspective, though, our family would spend at least $25 to eat out at a fast food restaurant, so eating at home is still a better bargain.  I still plan to eat and enjoy my tacos, and I will still probably smother them in all those rich, more expensive ingredients.  I think I’ll just make sure we aren’t enjoying them too often!

If you’re wondering how I came up with the cost of the wild meat we used, here is the link to that post: Cost Break-Down: Our Family's Meat.  Everything else I did by either by weight, like the cheese; and the lettuce etc I figured by looking at this week’s grocery bill. We used a third of the head of lettuce that I got for $1.59, so it was $0.53 worth of lettuce.

Cost Break-Down: Our Family’s Meat

My husband hunts and fishes for almost every pound of meat our family eats.  I get alot of questions about the cost of hunting as a hobby, which makes me laugh, because you can definitely spend as much as you’d like if you’re going to go all high tech gear etc.Or if you travel to exotic locales.  So while there are a million possible additional costs here, I have taken the time to figure out what our specific hunting season cost us for the meat we gained.

Last years’ Moose:

Gas for return trip to hunting spot : $150

Draw Moose Tag: $55

Shawn’s moose was 900 pounds, conservatively estimated.  We got 400-450 pounds of meat ( again conservative estimate, since we didn’t weigh the total meat pile, but you can expect to get 50%-55% of an animal’s weight in usable meat).  We gut, butcher and wrap ourselves.  We also make our own sausages.  We have all the equipment needed, so our only added processing cost is the wrap we use.  We’ve figured that it costs $0.01 per pound to wrap the meat.

That means, that if every cut and type of meat is valued the same, a pound of moose meat cost us $0.52. This would include roasts, tenderloin, steaks, ground, jerky, stew meat, strip cuts….etc etc.  We get meat cut exactly how we want it, in the size of packages that our family likes.  Around here, it’s grain fed, and it’s hormone free. 

Last Year’s Deer:
Gas for return trip to hunting spot : $150
Tags for 4 does : $40
Ammo for 4 shots : $4

On average, each doe netted us 50 pounds ( averaged out between white tail deer and mule deer).  Again, including wrap, that works out to 200 pounds of meat for $196. That’s $0.98 a pound for that year’s trip.

Another deer example would be this year’s Mule buck: 

Gas: $100
Tag:$35
Bullet: $1

Total meat was 110 pounds ( it was a NICE buck!) so that’s  $1.25 a pound ( including wrap).  And that’s about the most expensive number we could get for deer, since he only shot one deer that day, in the farthest he would hunt from home.

The following is what Shawn says would be the average Joe going hunting around his own home:

Doe tags: $20 ( for 2 does)

Ammo: $2
Gas: $40

The average doe nets you 40 pounds of meat ( again, conservative estimate based on average body weights mixed together of the white tail and mule deer does) SO, for 80 pounds of some of the finest meat there is, you have spent $1.56 a pound( including wrap).

I guarantee you are not going to go to the grocery store and buy tenderloin for any of the above prices.  Maaaaaaaybe the ground works out the same as the grocery store, depending on alot of things.

Ok, One more: Last weekend’s fishing trip:
Gas to fishing spot, again one of the furthest places we regularly drive : $40

Bait ( because Shawn insists on the good smelts): $10

Pounds of fish fillets: 15.  That works out to $2.67 per pound for the fish caught on that trip.  If you were to buy Northern Pike Fillets at the fish store here in town, you’d pay $8 a pound.  Seems like a good deal to me.

Now, alot of these numbers are based on averages, but Shawn plans to be a lot more scale crazy this year, and have more specific numbers to go by next year. See, I’m not the only calculator crazy nerd in the house :)

Cost Break-Down: Spaghetti Supper

I’m still struggling to get our grocery budget under control!  One of the things that is tripping me up is that I don’t know what we usually spend on an average meal at our house.  How can I try to spend less per meal, if I don’t know what I am spending now?  I have been trying to spend less but eat the same!  So in order to help me know which meals cost me more to trade them out with others, I am trying to figure out what some of our favourite suppers cost.

I make spaghetti once a week, because it’s quick, easy and my kids love it. Invariably, when I ask them which suppers they want me to plan on that week, they both say “spaghetti”!!  I use ground deer/moose/elk from the freezer, so to me, this cost doesn’t get included in the meal.  We pay for hunting costs in hunting season, and I don’t factor them into the grocery cost the rest of the year.  I use one can of tomato sauce, to which I add the meat and some spices that my kids like ( cumin and oregano).  I used to add mushrooms, but my kids requested I leave them out, so in trade, we have a spinach salad( spinach leaves, grated carrots and grated cheese with dressing).  Believe it or not, all my kids love spinach!  If I’m really on the ball that day, I make a loaf of bread to go with it.  I buy my spaghetti in those huge no name bags, and last time I made it, I figured out that I use about half the bag.

So here is my cost:
Can of NN tomato sauce :$1.07
Spices :$0.05
Spaghetti Noodles: $2.00
Spinach Salad, all ingredients:$1.50
Loaf of homemade Bread:$1.33

Which means this meal costs a grand total of : $5.95 ! That’s supper for 6-8 people and I usually have enough left-over's for one lunch. That’s pretty amazing!!  I could cut the cost more if I skipped the bread.  If you buy a pound of lean ground beef to add to yours, add $1.78 to that, making for a total of $7.73.

I’d love to know what some of your go-to low cost weekday meals are!

And the Poll Results Are…..

So those of you who read regularly know about the poll I’ve had posted for everyone to answer.  It closed at Christmas, and here are the final results:

Which of the following would you consider acceptable as gifts?( 22 people answered)

Garage Sale find (19)
Re-gifted Item  (21)
Thrift Store Purchase  (19)
Item from Giver’s Home  (19)

I have to admit, I am happily surprised with that.  I thought that people would think less of gifts if they knew that they came from one of these places.  Maybe I haven’t been giving the people in my life enough credit!  What about you? Are you surprised too?

Working on another poll…stay tuned!

Life Insurance

Today we had a meeting with a representative from FaithLife Financial.  Looking into insurance has been one of those things we knew we should do, but never got around to.  And, I admit for me, Life Insurance hasn’t really been something I considered part of our financial health plan. But it is! 

At first, it was hard for us to think about spending that extra each month, when we are trying to pay down debts, but really, neither of us wants to leave the other with all that debt alone!  Plus, our advisor gave us some good advice.  Ditch the mortgage insurance through the bank.  You pay the same thing the whole term, but you have declining coverage ( as you pay off your mortgage).  And, once you need it ( your spouse is injured or dies) THEN they put an application through.  So you may not qualify, after you need it!  You’ll pay that premium for years, and could still not be eligible.  Instead, he recommended having enough life insurance to cover your mortgage.

So we sat down, and came up with how much coverage we need.  And let me tell you, it’s waaaaaaaay more than I might have guessed.  To cover the mortgage, and replace Shawn’s potential lost income long enough to get on my feet, as well as cover a funeral added up to a lot.  We covered both of us for that amount, so that if something happens to me, Shawn will also be okay left to take care of all the kids without my contributions to our family. 

Then we discussed insuring our kids.  No one wants to imagine that eventuality, but IF something happens, I do not want to worry about how I will pay for a funeral.  We added a bit more coverage, too.  If Shawn wanted to take time off to grieve, I’d like to have the freedom to make that choice. 

We also know that if something happens to both of us, the guardian of our children will be left with enough to care for our kids without worries.

Once we knew what all we needed to cover, we added up what the premiums will be.  And you know what? It wasn’t that much more than what we are paying for the mortgage insurance alone.  Once we cancel the bank’s mortgage insurance, and have the new insurance in place, we’ll only be spending a little bit more each month.

He also recommended that we meet with a mortgage broker to see if we can move our mortgage to save money, so we’ll be looking into that this week.  Next up after that? Wills.