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The Budget Stretcher
"Saving you money...One Dime at a Time!"
Week Of: July 23, 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.
Editor's Note - Last week I goofed on the below link. I left
out an s on cattreat which meant the link didn't work. Let's
try it again.
Pamper Your Cat - 130 Recipes For Your Feline Friend
Recipes From South Of The Border
Special 50% Off Ebook Offer
Home & Recipe Bundle (Includes)
250 Delicious Thanksgiving Recipes
The Essential Guide to Organizing Your Home
200 Problem Solving Tips For Your Home and Your Health
167 Fudge Recipes
173 Doughnut Recipes
224 Meals in a Hurry!
250 Pie Recipes
300 Muffin & Quick Bread Recipes
98 Popcorn Recipes
Fun Craft Projects for Kids
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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 - Cheese Enchiladas
Watch for next week's newsletter featuring:
You Might Be in Credit Card Trouble If...
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Subscriber Tip
This is related to Catherine's tip. There are collection
agencies out there that deal in "zombie debt" (old debts that
are frequently past the statue of limitations) and who use
rather unpleasant tactics. The first tip is to NOT talk with
them, but to communicate only in writing. If you don't have
caller id, and answer their call, tell them they must
communicate in writing, and don't respond to any questions. If
you do have caller id, do as I do and don't answer "unknown" or
"unavailable" calls - they'll give up and will send a letter
eventually. Once you get their letter, and you think it's
several years old, tell them to send documentation for the
alleged balance due, including it's original date. Send this via
certified, return receipt mail. There's a good chance they'll
respond saying the account is closed. HOWEVER, they may also
then turn around and sell it to another such agency, whereby you
simply do the same thing with them as well. I've been through
this with an item that went back about 10 years, and so I no
longer had any records of it.
SLEE
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
If you're unable to shop at more than one grocery store each
week to maximize your coupon savings (or if the stores in your
area are too far apart, considering the extra cost of gas) just
be sure to shop at a store that offers price matching. Let's say
you have some great coupons for several items that are only on
sale at the 'other store.' By asking for a price match, you'll
not only get the best sale prices for both stores (without
having to make a second trip), but you'll also be able to match
those sale prices with your coupons! :o)
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!
Time is getting short to subscribe to Budget Stretcher Premium
and save 30%. You only have about 8 days before the price goes
up. Right now and until July 31, 2007 you can subscribe for
only $13.96 for one full year. After that the price for
everyone goes up to $19.95.
Then, within the next couple of months it will cost a minimum of
$5.95 per month ($57.12 per year with a 20% discount). Please
don't miss this. Here is the link:
Here is a short thank you note from Catherine for all of the
help with her question:
Dear Grandpa Terry,
I wanted to say thank you for all the wonderful tips the
readers sent me. I have used several of the suggestions, and my
precious kitty seems to be making a little progress. Thank you
to everyone!
Catherine
Did you know that the Sears Company is not only holding the jobs
of their employees that are called to active duty in the military
but they are paying them their regular wages and benefits minus
their military pay?
I think Sears is going above and beyond to help our military
and have written them to tell them so. Here is the link to
read the story:
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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Over 10,000 Frugal Tips and Articles
Are you looking for ways to economize? ThriftyFun.com
publishes tips in a variety of categories, from food to
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participation. Come join the discussion at ThriftyFun.com
and view over 10,000 tips and articles to save you money
and time!
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Credit Card Information
Credit Card Checks Can be Costly
By Jeremy Simon
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Grandpa Terry's Tip of the Week
Is Your Second Income Worth It?
It seems like these days one income just isn't enough for many
people. They either try to work two jobs or both Mom and Dad
have a full or part time job.
But, are they really making any money from that second income?
There are so many expense factors involved in a job that you
could actually be working for almost nothing.
Some of the expenses involved are:
Transportation
Taxes
Child Care
Clothing
Food
Of course there could be many others but the above list
covers almost all jobs.
If you are wondering why your second income isn't providing
much help to your family's finances please use one of the
below calculating worksheets to see exactly what your after
expenses income really is:
Microsoft Works Spreadsheets
Excel Spreadsheets
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Site of the Week
All Things Frugal
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Grandpa Terry's Email
Hi Terry
Just wondering if you can help me make a definitive decision.
We are getting a tax return of $6500 in the next few weeks and
our largest commission yet of $4200 as well.
So where should we be putting the $10700....?
We have the following debts:
Payday loan $2000
HSBC Visa 13.5% $2935
NAB Visa 12.5% $2991
Personal Loan 12% $11173
My thoughts were to put:
$2000 into an emergency funding account earning a small amount
of interest but easily accessible for 'Emergencies' We have
never had spare cash before.
$2000 payout and close payday loan
$2935 payout and close HSBC
$3200 to fund our budget a month ahead to help us maintain the
emergency funding
Remainder to a savings account.
(none of our bills are overdue at present and we don't receive
any new ones until 1 august, most of our bills are due in the
1st week of the month)
We get approximately $640 per week August is a 5 week month so
I have allowed for the extra week in the 3200 which should see
us saving 5 weeks of income over August to cover the next month.
We also think we might roll both the remaining credit card and
the personal loan into a low rate personal loan with the company
my husband works for, so payments will come out of his advance
each week and when he gets commission we can arrange for lump
sums to be paid. Interest would be at 9%.
Does this make sense or should we be concentrating on something
else.
thanks in advance
Kathie
My Response:
Hi Kathie,
Honestly, I can't come up with a better distribution of your
windfall. All of these are excellent ideas and will set your
finances up to actually pay off your debts years earlier and
have a backup system if you need it. I would suggest that if you
combine the loans that you pay extra whenever you can.
You and your husband are well on your way to being debt free
simply because you care about your future and are willing to
take the time to plan. I applaud you!!!
Good luck,
Terry
-------
Hi Terry,
Here's a question for you. My b/f has poor credit. Not because
of late payments, but due to lack of credit history. Funny thing
is he owns his own car and owns his home outright. Yup, he's
always paid cash for everything, when possible. We are in
process of building up our businesses and would like to get some
credit, but he keeps getting turned down due to lack of credit
history. Is there a way to show that he owns his own home and
vehicle on his credit reports? Any other ideas for showing
credit history?
Thanks,
Leslie
My Response:
Hi Leslie,
I guess this is one of my pet peeves about the credit process.
You could be a millionaire and still be turned down for a loan!!
No, I don't know of any way to show the house and car on the
credit report. The only way is to actually obtain some credit
and make the payments on time each month.
I'm going to send you the FICO ebook about credit scores. It
explains in great detail how credit scores are established. Here
is the link to download.
Understanding Your FICO Score
The quickest way is to obtain a credit card and charge about
$300 on it. Then each month pay more than the minimum payment.
This will appear on his credit report very quickly.
After you read the ebook if you have any questions please let
me know.
All the best,
Terry
-------
Dear Grandpa Terry
Just visited the way2hope website. What a nice place to get
encouragement! I go through the Budget Stretcher every Sunday
morning and visit the website of the week, and just generally
check out everything. It just seems like we are going to face
one challenge after another this year.
Right now my husband, who is the county road superintendent,
was given a two week leave without pay. He is being disciplined
for not following orders, the problem is, he was not given any
orders regarding this situation. It is a set up---one of those
small town political things that is going on, and we have kind
of expected something like this for awhile, but that doesn't make
it any easier. So, we are starting to explore some new job
leads the silver lining here is that we would look for something
closer to where our kids live---the commissioners who are
supporters of my husband are trying to get things straightened
around, but we don't know what the outcome will be and are trying
to organize a Plan B.
There is a possibility I may have to take money out of my
retirement fund to live on you know if this would be
considered a hardship and would I have to pay taxes on it? I
will find out, I suppose, if it actually comes to that.
Thanks for all your help. Your newsletter inspires me to keep
plugging away.
Brenda
My Response:
Hi Brenda,
I'm sorry to hear about the job problem. I live in a small town
and know how the politics can work.
There are entirely too many retirement plans, exceptions and
exemptions to know for sure if you would be entitled to claim a
hardship. However, here are 2 IRS publications with the links to
download the files that may have your answer:
Publication 575 Pensions and Annuities
Publication 939 General Rule for Pensions and Annuities
The best thing for you to do is put away 20% of any money you
take out of your retirement fund just in case you are subject to
tax. Normally, this is not only added to your regular income for
the year you receive the money, but also a 10% (or more)
additional tax may apply.
I hope this helps,
Grandpa Terry
-------
Hi Terry
I am disabled and just am not sure where to look or what? I am
trying to find out how I would buy a piece of property that's in
foreclosure. Do I go to another mortgage company or is there a
foreclosure company that can get me started at how to go about
it?
Thanks
Gina
My Response:
Hi Gina,
I would recommend that you contact the banks and mortgage
companies in the area where you want to buy. They normally have
a list of foreclosed property.
You may want to also ask them if they have customers that are
near foreclosure that want to avoid the stigma of having their
house foreclosed. Sometimes this can get you even a better deal.
The bank will probably handle the paperwork for the sale and you
could avoid the extra charges of a realtor.
I hope this helps,
Terry
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Subscriber Tip
Nothing is non-negotiable. If you feel like there is even a
chance that you may be able to save some pennies, ask. I told my
local supermarket that I could get a better deal on-line for
some of their products and they reduced the price. Now, of
course, if I had bought the same items on-line, I would have had
to pay shipping. This way, I got the best deal. It taught me,
once again, that it never hurts to ask.
Kim
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Subscriber Tip
Rather than spending that 3 percent cost-of-living
raise, bank it.
And the next time you get a raise, increase your
disposable income by the amount of your last raise.
Compliments of: Bankrate.com
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This Week's Article Links
Just click the links to view the article
101 Ways to Trim Your Budget
By Care One Credit.com
Consumer protection laws: Know your rights
By Leslie McFadden " Bankrate.com
10 Steps To Improve Your Financial Situation
By Gregory Thomas
To read more articles visit:
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Special Recipe
Repeated at Reader's Request
Cheese Enchiladas
6-8 tortillas
1 cup cheddar cheese
1 cup Monterey Jack cheese
1/2 onion, chopped
1 clove garlic, crushed
1 can of enchilada sauce
Heat oven to 350 degrees. Mix cheddar cheese, Monterey Jack
cheese, onion and garlic. Spoon about 1/4 cup cheese mixture
down the center of each tortilla. Roll up and tuck in ends;
place seam sides down in greased oblong pan 12x7 inches. Top
with enchilada sauce on enchiladas and sprinkle the rest of the
cheese. Bake covered until cheese is melted and bubbly (about
40 minutes. Serves 4.
This recipe compliments of The Best Cookbook Anywhere
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Everyday Savings
These Tips provided by The Frugal Shopper
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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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