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The Budget Stretcher
"Saving you money...One Dime at a Time!"
Week Of: June 11, 2007
AOL Users Please Visit Online
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Free Ebook Download
For the next few weeks I'm going to give away an ebook each
week. All you have to do is click on the below link and the
download will start. The Adobe Acrobat Reader is required
to open the ebook and is on most computers.
Soup Recipes
Collection of Easy to Follow Soup Recipes
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MOMS MAKE MORE!
More financial freedom!
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More flexibility!
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***What's Inside***
Free Ebook Download
Subscriber's Tip of the Week 1
Coupon Savings
Grandpa Terry's Update
Credit Card Information
Grandpa Terry's Tip of the Week
Site of the Week
Grandpa Terry's Email
Subscriber's Tip of the Week 2
Subscriber's Tip of the Week 3
This Week's Articles
Special Recipe - Nan's Sugar Cookies
Watch for next week's newsletter featuring:
10 things to do before you retire
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Subscriber Tip
First thank you for the time you invest here and for your
guidance and encouragement.
My tip(s) before you recycle old magazines etc to rest homes
and other places clip your name and address off to reuse inside
books you intend to keep various appliances and can always be
used for return address labels. Always cut them off for security
reasons too. I have discovered so many ways to reuse mine and am
able to gift others as well. Sometimes I offer them on a local
sharing group in the sharing is giving network.
Thank you Grandpa Terry for being one of 2 favorite newsletters
I receive, , may GOD bring you joy and calm during stormy days
All you have to do is submit a "Subscriber Tip" and if it
appears in The Budget Stretcher you will get your choice of
either The Complete Budget and Bill Organizer Download or 10 of
my Budget and Credit Card Calculating Forms.
Please use the form available at:
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Coupon Savings
by Michelle Jones
Women's magazines are becoming more and more a great resource
for grocery coupons, the problem is you don't know they are
there until you just happen to find them. (If you're like me,
you barely have time to read magazines but you continue to buy
and subscribe anyways! ; o) So, the thing to do is quickly flip
through your magazines as you receive them to see if they
contain any coupons. Then, if you find any coupons that you can
use, go ahead and tear them out from the magazine and put them
in your wallet or coupon file so you can use them before they
expire.
Save hundreds of dollars on your groceries each month, with or
without using coupons! Read more of Michelle's FREE grocery
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Grandpa Terry's Update
Welcome to The Budget Stretcher!
I would just like to remind you that I have about 350 articles
listed in my article archive. These articles cover every
imaginable topic about saving time and money. Click on the
below links to gain access:
My Articles
Articles by Featured Authors
Articles by Other Authors
The special offer for my Bill Pay Management System has ended.
However, as a subscriber you can still get a 30% discount off
the new price of $7.95. You would pay $5.57 which is still not a
bad price. Just visit your Subscriber Benefits Page and follow
the instructions in the right column:
Always remember that every product I offer, including the Bill
Pay system is available at Budget Stretcher Premium at no cost
and is included in your annual subscription price. It's just
part of the benefits.
You can help me make a better showing at Ezine Finder with your
vote. This will encourage others to find and subscriber to our
newsletter. Please use the below link to vote:
Vote for this Ezine at the Ezine Finder:
That's all for now. Remember, I really enjoy hearing from you
folks. If you have any comments, complaints, suggestions or just
want to say Hi, please send me an email to
If you know someone that may be interested in subscribing to our
newsletter just have them visit:
Have a great week,
Grandpa Terry
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Aisle-By-Aisle Grocery List Software
Makes Shopping More Fun!
The idea that there is actually software that can help
me and my family with our weekly shopping expeditions.
A program like this would make our shopping experiences
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Credit Card Information
4 reasons to kick the credit card habit
By Walecia Konrad • Bankrate.com
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Grandpa Terry's Tip of the Week
Debt Free?
Would you know how to act if you didn't owe anybody anything?
We have become so accustomed to using credit and paying bills
that for most not doing this would seem foreign.
You just don't go to the car lot and pay cash for a new car
unless you are Bill Gates. When you go to the car lot you wonder
if you are going to get approved or if you will be able to come
up with the down payment.
You worry about whether or not you will be able to make the
payments with all of your other debts. That's the way it is for
most of us.
I'd like for you to think about this for a minute. You may even
want to break out your budget and add up only the bills you
would have (utilities, etc) if your total debt was paid.
Now, subtract that from your income and see how much you have
left over. Could you live on that?
What would it be like to actually have money left over on
payday? You could enjoy yourself and your family again, plan for
your retirement, put money away for the kid's college and all
the other stuff you can only dream about now.
I constantly hear the phrase "I need more money to pay my
bills" all the time when actually it should be "I need less debt
to be able to pay my bills".
When you take your debt out of the equation most of us could
live very comfortably on what we earn.
Believe it or not, people are paying off their debt, even their
mortgage. This doesn't have to be a dream. If you want it you
can have it.
Even if you only have a few dollars left over to apply to your
bills you can pay them off much quicker. Please read an article
I wrote about Snowballing payments at the below link:
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Site of the Week
FlyLady.net
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Grandpa Terry's Email
Good morning, Grandpa Terry!
I hope this Sunday finds you well and healthy.
I wanted to take a brief moment to comment on this weeks
newsletter. Loved it! I was particularly interested in the whole
discussion on priorities. I was raised in a family where we (as
a unit) basically came last rent was paid, utilities were paid
and any money left over was used to buy groceries. Let me tell
you the first of the month was ALWAYS tight and the menu for
those two weeks was skimpy at best. But, it was all I knew. (My
husband was raised the same way. Can you imagine how pleasant
the first few years of our marriage was?)
It wasn’t until I started subscribing to your newsletter and
reading a fellow financial fellow (hint: he speaks of debt
snowballs and total money makeovers), that I even heard of the
concept of *priorities*. However, I *did* hear the term Pay
yourself, first and I always thought to myself, How in the world
can I pay myself first when I’m barely making ends meet? Then I
read what you said in your article, Setting Your Financial
Priorities:
If you have the money to cover all of your other priorities
then you should always put savings at the top of the list.
However, if you don't have enough money to cover your bills and
expenses then your savings will have to be the first to go.
Priorities! Do I want to set up a savings systems so I have
something to fall back on in case of emergency? You bet I do!
But the fact remains, if I’m not meeting the basics, that savings
is never going to grow because I’m going to constantly be tapping
into it, so I might as well scoot it down my list of priorities
(for now) and be done with it.
Anyway I don't mean to go and on I just wanted to let you know
that you have done my family a world of good with that little
tidbit of advice. We now budget $150 per paycheck for food
(sometimes, its still tight when other things come up, but its a
far cry from the $20 a week we had budgeted 10 years ago!) So,
thank you.
Now, on to my second question (if you’ve made it this far, bless
you!) how do you feel about children, allowances and
pay-per-chore systems? This is something my husband and I have
been struggling with for awhile now, especially since our
children are getting older (my son is 9 and my daughter is 5).
My husband is on a salary at work, which makes for easier
budgeting, so we thought that maybe a salary(aka an allowance)
would be a good system for the children to learn how to save,
gift, and spend. On the other hand, its likely that my sons
first job will not be salaried, but hourly.
We definitely want to teach our children about money management
something my husbands and my parents never taught us. But what
is the best way to go about this? As soon as the children get
money, it burns a hole in their pocket and they cant wait to
spend it! We want to get a system in place where the kids sit
down and *think* about their money before spending it. Any
advice?
On a side note, a salaried allowance would be easier on Mom and
Dads budget. How does one budget for a pay-per-chore system?
Sincerely,
Iva
My Response:
Hi Iva,
I'm really glad you enjoyed the newsletter this week.
Learning the priorities was the turning point for me and my
wife. We would try to pay the bills and live on what was left
over. It was never enough so we had to use credit cards or
borrow money to make ends meet. We couldn't understand why we
kept getting in deeper and deeper. If there's nothing else that
the subscribers gain from me, I hope they will take this to
heart.
The emergency fund is a little different. Most of the folks
I've spoke to about this use either unexpected money gifts, tax
refunds or other windfalls. The hardest part is keeping it where
you can get your hands on it quick but not use it unless you
have an actual emergency.
With your questions about your kid's allowance you touched on a
pet topic of mine. Not just allowances but the whole business of
teaching our kids about money so that they won't make the same
mistakes we did (hopefully). I've been wanting to write a book
on this but there never seems to be time.
The first thing I would like to tell you is that your kids are
subject to the same financial limitations you and your husband
are. They should also have some basic responsibilities around
the house that they don't get paid for like making their bed or
picking up after themselves. You should pay them for the extras.
Set the allowance based on what you can afford.
One thing I like to suggest is that you tie this to things they
have been asking for. In other words if they have been asking
for a $50 pair of tennis shoes and you would normally pay $20
for them, let them save the difference.
Something else that you could try with your 9 year old is to
give him the responsibility to buy some of the things you
normally buy for him and pay him extra if he does his chores
(without complaining).
Most importantly is to give them responsibilities for buying
certain things with their money. If they want a special toy let
them save for it. Sometimes it helps if you give them an
additional incentive if you can afford it. Tell them that for
every $1 they save you will give them an additional 25 cents
until they have the money to cover it, but only if they do what
they are supposed to.
I like a set budget instead of a pay per chore. However, if
they don't do something that they are supposed to then deduct a
certain amount from the allowance and let them know why. If you
are as forgetful as I am you should probably write this down.
Make their responsibilities for receiving an allowance clear.
Make a list of what you expect them to do for no pay and what
you are willing to pay them for. If they don't do it they don't
get paid.
I know this sounds pretty complicated but what isn't when you
are dealing with your kids. I hope it will be worthwhile in the
long run.
Most of the time our kids are asking for things that there is
no way we can afford. Part of that is just being kids. But, one
of the reasons is that we never talk to our kids about the
family's finances. They don't see or understand that all of that
money you have isn't just to buy them stuff. I think for your 9
year old it would be a good time to sit him down and show him
where all that money goes and why you can't buy him everything
he wants.
I guess I got a little long winded too. It's just that I
strongly believe that teaching our kids the right way to handle
their money is the only way this country is going to survive the
current debt disaster.
Have a great week,
Grandpa Terry
--------
Hi, Just a quick question about paying off credit cards. What
is the best way to do it? I called Washington Mutual and asked
them what the payoff amount would be if I paid them over the
phone right then. They gave me the amount, I paid them and asked
if they could send me a confirmation letter stating that the
debt was paid off. They said that they could not that my next
statement would be the same thing. The next statement showed a
$14.00 pay by phone charge. I called them and asked why this
charge was not included when I paid the bill. They said they
would take care of it and that I did not owe them anything since
I paid the total amount due. Well it is three months later and
we have gone back and forth several times and now they say I owe
them something line $250.00 with late fees, etc. I spoke with a
lawyer and he said that it would cost more to fight them than to
just pay the amount they are asking for. He said to write them a
letter stating what I had stated above. What do you think?
thanks,
Tom - Ready to give up in TN
My Response:
Hi Tom,
This wouldn't happen to be a Chase Card, would it? I ran into
the same problem with them about a year ago except it was
additional interest.
In hindsight you probably would have been better off paying the
bill electronically or by personal check if you had know about
the $14 fee.
As to your main question "What is the best way to do it?".
When paying a large amount on your credit cards or paying them
off do it by mail. That way you have a paper trail.
Do not pay the fees for paying by phone.. This is a phony
charge. Many companies will gladly process your payment by phone
for free.
Don't rely on the "pay off" amount you get from the credit card
company. I recommend paying all but a few dollars of the amount
they quote and expect to pay the remainder when you receive the
next statement.
In your case, I would recommend sending them a certified letter
(return receipt) disputing the charges. You can find a sample
dispute letter at
Watch your credit report. Since it has been 3 months you may
have suffered some damage to your credit score because of this.
If you are successful in getting the charges removed make sure
to tell them to report this to the credit bureaus.
Whenever you speak to a credit card or other financial companies
about your account take down the names, date and time of the
call and what was said. It's best to do this right on a statement
or a blank piece of paper then attach it to a statement.
I hope this helps and you are successful,
All the best,
Terry
--------
Dear Budget Stretcher Editor,
Hello, I'm Dan Meagher from the Oklahoma City University
Performing Art Academy. We are the music outreach education
department of OCU's Bass School of Music, which for 80 years has
inspired and educated students for professional music careers -
including Tony, Emmy and Grammy Award winners.
As part of our education mission, we produce a free, monthly
music e-newsletter, which provides parents and students with
helpful articles for young performers and musicians of all ages
on a wide variety of music topics. We invite your members to
receive our e-newsletter. Past newsletters have included
information about:
* Preparing for college music school auditions
* How to pay for a college music education
* How singers can avoid sore throats
* How instrumentalists can travel with their instruments
* How to introduce young children to music
Our newsletter is free and available to parents who want to
help their child reach their musical goals. Currently, over 3,
000 parents and students from around the nation and the world
receive newsletter. Your members may sign-up by visiting:
free and our member list is not sold or used by anyone else. You
may unsubscribe at any time.
Like you, we strive to help parents and their children achieve
their personal best. We would appreciate it if you could let
your members know about this opportunity. If you have any
questions, please feel free to contact me at (405) 208-5410 or
at this email address - dmeagher@okcu.edu Thanks for your time
and interest!
Dan Meagher
OCU Summer Music Program
Performing Arts Academy
Oklahoma City University
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Subscriber Tip
Good Morning Terry,
A subscriber tip for those Texas readers......
Remember, you have the power to choose your electric provider.
code. You are able to compare rates, initial savings and long
term savings on line.
Tambi
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Subscriber Tip
I use a beautiful bottle with a alcohol pourer on it for my
dishwashing liquid. It's far more attractive than the commercial
bottles and less flows out as I pour it. Of course the company
that makes the detergent wants you to use it up quickly so that
you can buy more, not in my house!
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Support Our Sponsors
Debt Consolidation can:
H - Help avoid filing bankruptcy
E - Eliminate creditor harassment
L - Lower debt payments up to 50%
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This Week's Article Links
Just click the links to view the article
Other ways to tap home's equity
By Cheryl Allebrand " Bankrate.com
How To Stop Foreclosure of Your Home Before It's Too Late
by Alex Gurevich
The Cost of Working, Is It Worth It?
By Barbara Whiting
To read more articles visit:
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Special Recipe
Nan's Sugar Cookies
1 cup shortening
2 cups sugar
3 eggs
1 cup buttermilk
3 tsp. baking powder
1 tsp. soda
6 cups flour
Cream together the sugar, shortening and eggs. Add buttermilk.
Stir well and add the dry ingredients. Mix until smooth. Roll
into balls and drop about 3 inches apart on a greased cookie
sheet. Lay a clean dish towel flat on the counter. Place a clean
glass upright in the center of the towel. Gather the towel at
the top of the glass and twist so that the towel is drawn tight
against the bottom and the sides of the glass. Dip bottom of
towel-covered glass into flour and press cookies flat. Place a
drop or two of water on the top of each cookie and spread
around. Then sprinkle sugar on top. Bake at 350 degrees for 5-10
minutes.
This recipe compliments of The Best Cookbook Anywhere
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Everyday Savings
These Tips provided by The Frugal Shopper
Please show your appreciation for these great tips by visiting
this site.
Visit Sandy's Household Tips Links. She has
links to several sites that provide helpful
tips about saving money and time in your
house. Please visit:
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Contact Information:
Budget Stretcher
1203 Madison 228
Fredericktown, MO 63645
FAX: 573-783-5982
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Disclaimer: This newsletter is only intended to provide
information on proper money management. Budget Stretcher or
Terry Rigg can not accept responsibility for any injury or
damage that may be caused to yourself, others, or property when
following any advice given.
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