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The Budget Stretcher
Week Of: October 2, 2006
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Grandpa Terry's Quips
Number #19 - Even early man knew that they needed Water, Food
and Shelter to survive. So why do some people pay their credit
cards bills before their groceries, housing and utilities today?
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***What's Inside***
Money Saving Tip
Subscriber's Tip of the Week
Coupon Savings
Grandpa Terry's Update
Credit Card Information
Grandpa Terry's Tip of the Week
Site of the Week
Grandpa Terry's Email
This Week's Articles
Special Recipe - Milk chocolate Frosting
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Subscriber Tip
Here's an easy one. Going on a trip? Planning on picking
something up to eat on the way? Bring drinks from home! If you
ever noticed, most restaurants charge an arm and a leg for soda.
That's why they can offer you those good food deals. It
only takes a couple seconds to grab some sodas, or a container
of water. If you have kids especially, you will notice the
savings.
Kristin
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
Businesses and manufacturers can be a great source for getting
coupons of all types. Whether you are happy or unhappy with any
particular service or product if you can just take the time to
let the company know, chances are pretty good they'll reward
your time and valuable input with some free coupons!
Save hundreds of dollars on your groceries each month, with
or without using coupons! Read more of Michelle's FREE
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Grandpa Terry's Update
(Quote - "Do It Now Before Your Future Becomes Your Past")
I want to personally welcome you to this week's newsletter. If
you are a new subscriber all you have to do is just sit back,
read and enjoy.
I thought this may be a good time for us to get up to speed on
our winter driving. Here is a web site that covers just about
everything you need to know:
Car Talk's Official Winter Driving Tips
We have a lot of new subscribers and I am getting the emails
again that ask me to "direct their email to the appropriate
department" or "have your staff get back to me"! I'm also
getting those emails that refer to me as "Mr. Rigg".
I would like to put a picture in your mind about what Budget
Stretcher offices look like. There is 1 bald headed guy sitting
at a computer with papers and files (neatly) placed around that
computer. This computer is located in a room in my house.
I start my workday at about 4:30 in the morning by checking and
answering my email. I do this several times a day. Then it's
time to update my web sites with stuff I've accumulated the
previous day.
On Saturday morning I start putting together our newsletter. I
use web sites I visited the previous week, tips submitted by you
folks and other email that I've received with articles and other
info that I think you will be interested in.
Basically what I'm saying is that there are no departments or
staff to run them. Budget Stretcher is a one man operation where
there is no doubt who to blame if something is wrong!
I don't mind being called Mr. Rigg by someone that is trying to
sell me something, but for you folks I prefer either Terry or
Grandpa Terry (your choice).
It may also be important for you to know that I'm not some
financial guru with a bunch of letters after my name. Any
insight I have into solving financial problems either comes from
my personal experiences (I've been where most of you are, or
worse) or what I've learned since starting Budget Stretcher
almost 7 years ago.
If you want to know a little more about me and Budget Stretcher
you can visit my About page at:
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:
All the best,
Grandpa Terry
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Credit Card Information
Balance Transfers Take Advantage of Balance Transfer Offers
Now-- Changes May Be Coming
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Grandpa Terry's Tip of the Week
Here is a tip I ran in May 2003:
This week I'm going to run a short article I read in the
"Tidbits" weekly newspaper.
The Carpenter
An elderly carpenter was ready to retire. He told his
employer-contractor of his plans to leave the house building
business and live a more leisurely life with his wife enjoying
his extended family. He would miss the paycheck, but he needed
to retire. They could get by.
The contractor was sorry to see his good worker go and asked if
he could build just one more house as a personal favor. The
carpenter said yes, but in time it was easy to see that his
heart was not in his work. He resorted to shoddy workmanship and
used inferior materials. It was an unfortunate way to end his
career.
When the carpenter finished his work and the builder came to
inspect the house, the contractor handed the front-door key to
the carpenter. "This is your house, " he said, "my gift to you."
What a shock! What a shame! If he had only known he was
building his own house, he would have done it all so
differently. Now he had to live in the home he had built none
too well.
So it is with us. We build our lives in a distracted way,
reacting rather than acting, willing to put up less than the
best. At important points we do not give the job our best
effort. Then with a shock we look at the situation we have
created and find that we are now living in the house we have
built. If we had realized, we would have done it differently.
Think of yourself as a carpenter. Think about your house. Each
day you hammer a nail, place a board, or erect a wall. Build
wisely. It is the only life you will ever build. Even if you
live it for only one day more, that day deserves to be lived
graciously and with dignity. The plaque on the wall says, "Life
is a do-it-yourself project".
Who could say it more clearly? Your life today is the result of
your attitudes and choices in the past. Your life tomorrow will
be the result of your attitudes and choices you make today.
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Site of the Week
Emerson Publications
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Grandpa Terry's Email
Topic of Discussion
If you can help this subscriber please email me at
Dear Grandpa Terry,
I'm writing to ask if you might have any suggestions on how I
might get out of a bad situation I unfortunately allowed myself
to get into. I don't see any way out, but was hoping you might
know of something. My problem is that I borrowed money form a
high interest short term loan place a few weeks ago, and now
can't pay it back, and the interest and penalties are being
added daily. We are trying to sell some land, and I mistakenly
thought we were going to close back in July. I have been having
some very severe financial problems, and at the time was on the
verge of losing my car to repossession. I had to make a car
payment right away - about a week before payday, and the car
loan place would not wait. We were less than a week from closing
on the sale of the land, so I saw no harm in borrowing money to
save my car which I need for a 25 mile one way commute to work.
So I borrowed the money and the sale of land fell through, and
now I don't know what to do. The land will sell eventually, but
I don't know when, and there honestly is no money to pay the
very high interest short term loan folks. Is there anything at
all I can do???????? Obviously I have learned my lesson - NEVER
do this again! - but I don't know how to handle this. If you
print this please don't use my name or email address. This is SO
frightening and embarrassing.
My Response:
I spent about an hour researching the possibility of defaulting
on your payday loan or other ways to solve this problem. There
doesn't seem to be any way to avoid paying the full amount, even
through bankruptcy.
I'm going to put your question in the newsletter to see of one
of my 24, 000+ subscribers may have some way to help with this
problem. Please look for it in the "Grandpa Terry's Email"
section.
All the best,
Terry
-------
Just read the newsletter re the Debt Elimination Summary you did
for Paul. How can the rest of us get one?
Carol
My Response:
Hi Carol,
To learn how you can order a Debt Elimination Summary just visit
the below web page.
If you have any questions just let me know.
All the best,
Terry
-------
Grandpa Terry,
I am a mom of 8 (newest one is 3 months old) and saving money
is my "hobby out of necessity".
I have many money-saving tips, but I'll just take the time to
share one right now. Foam soap is a great way to wash hands of
little ones without having them use too much (like in the
regular liquid soap pumps) or make a mess (as with bar soaps).
The foam soap pumps used to come with a refill that you could
purchase, but I've been unable to find the refills for a couple
of years now. I did a search online and found a recipe to refill
foam soap containers.
The recipe is: 3 T liquid hand soap or mild dishwashing soap
(NOT the kind of automatic dishwashers) and 2/3 c cold water.
Pour the liquid soap into the foam soap dispenser. Add the cold
water slowly (so is does not become too sudsy). Gently tip the
soap pump back and forth, upside-down, right-side-up, until well
mixed. I found that my dispensers functioned better with 1/2 the
stated amount of soap (1 1/2 T. soap).
The Budget Stretcher newsletter continues to be my absolute
favorite money-saving newsletter (and I've subscribed to many
others in addition to Budget Stretcher). Thank you SO MUCH for
all the time, work and money you've devoted to helping so many!
Blessings, Gina
-------
Hi, Terry. I found a link to a website that has been helping me
out a lot and I thought other people could benefit from hearing
articles about debt and saving money, but there are also coupon
trains and people who just trade coupons. I feel a lot of
support and comradely from other people in the same kind of
situation I am in. I have hooked with someone to trade coupons.
You can also create your own blog and share your story about
debt and saving money with others.
Sign me,
Barbara in Kansas
My Response:
Hi Barbara,
Thanks for the tip. Look for it in next week's newsletter.
Actually, Jeffrey Strain at Saving Advice and I are old
internet friends. He has all of my articles at his site and I
have several of his on mine. Also, the Saving Advice Forum is
the official forum of Budget Stretcher. I'm glad I get to remind
the other subscribers about this great site through your tip.
Thanks,
Terry
-------
Hi Grandpa Terry,
I have what is probably a silly question. My question... How do
I know how much is 'enough' or 'too much' to be contributing to
my retirement account? I understand that in a perfect world I
would contribute the maximum amount allowable. But with my debt,
wouldn't it be wiser for me to decrease my contribution and put
the difference towards some of my debts?
I have a lot of debt. I have a student loan, credit cards, auto
loan, mortgage ETC... I am a single mother although I co-habitat
with a gentleman (who isn't contributing to the financial kitty
as much as he should be [that is another story... perhaps for Dr
Phil.])
Recently, I even committed the ultimate no-no and borrowed
money against my retirement account. The payments are $115.38
every other Friday (it is deducted out of my paycheck).
As a new Premium subscriber I read your "Living within your
Means" eBook this past weekend....
I make decent money, for example, my last paycheck... I grossed
$1879.03 (for 2 weeks) but my take home was only $1029.87 (which
includes the annuity loan payment).
After reading your book I realize I should probably be claiming
a higher number of dependents on my W4. (when I was married I
had to pay and I have been gun shy ever since)
If you have any advice or direction to point me, I would be
grateful. Like many people I am passed the point of
embarrassment for my situation. I am smarter than this and it is
really frustrating.
Thank you, I love you website and newsletter.
Tammy, Bolivar, MO
My Response:
Hi Tammy,
I want to thank you again for subscribing to BSP!
There are a lot of smart people that are having the same
problem you are. It seems like when it comes to money things are
different. I know that is the way it was with me years ago.
First, I would keep a respectable amount going into your
retirement (if you can afford it). However, the bulk of your
money that is budgeted for bills and expenses should be used for
paying off your debt. In the long run you will be able to
contribute much more to your retirement.
As for your tax exemptions. The rule of thumb is that for every
$500 you received last year as a refund you are safe in claiming
1 more exemption. Of course circumstances and an increase or
decrease in income also affects this.
I would suggest that you make up your budget and allocate every
penny you earn to one of your budgeting categories. Then you can
play with the figures until you feel comfortable that it is
something that you can live with. You may find this easier to do
with the calculating forms available at BSP.
If you have any questions along the way you can always email
me. I promise I'll get back to you within a few hours.
By the way, we are almost neighbors! I live in Southeast
Missouri!
All the best,
Grandpa Terry
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Subscriber Tip
My biggest way to save money lately has been yard sales. My
daughter got all yard sale birthday presents. And she was not
deprived. I got an American Girl like doll furniture sofa with
pull out, an American Girl pillow, a Klutz tissue paper flower
book, three in the package new teeny beanie babies. Not bad for 8
dollars total. You do have to reserve every Saturday morning.
Char
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Subscriber Tip
One thing I do to save money on detergent is I wash all my
cleaning rags at one time by themselves. I don't use any
detergent (they already have cleaners on them) and I dry them
with no fabric softener as this can adds streaks to things such
as windows. It saves on detergents and fabric softeners. The
cleaning rags always come out clean and residue free. The only
cleaners I use is window cleaners and an all purpose cleaner so
I don't worry about mixing the cleaners in the wash. I just
keep a bag beside the washing machine to put them in until I get
a small load.
No Name Given
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We encourage reader's requests and participation. Come join the
discussion at ThriftyFun.com and view over 10, 000 tips and
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This Week's Article Links
Just click the links to view the articles
Crisis Fund
By Terry Rigg
Pay off cards now or later?
Ask Dr. Don by Don Taylor, Ph.D., CFA, CFP • Bankrate.com
Never Pay Retail - Ever!
By Kimberly A. Griffiths
To read more articles visit:
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A_Simple_Life
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FrugalMomsNews
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Special Recipe
Milk chocolate Frosting
1/3 cup butter, unsalted
1/2 cup baking cocoa
3 cups powdered sugar
1/2 cup milk, scalded
1 tsp. vanilla
Melt butter and cocoa together. Stir in powdered sugar, milk
and vanilla. Place pan in ice water and beat until spreadable.
Use a hand-held electric mixer for lighter color and fluffier
texture. Beat by hand for darker color.
This recipe compliments of The Best Cookbook Anywhere Not Just
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Everyday Savings
These Tips provided by The Frugal Shopper
~~Leftover pancake batter makes good fried onion rings.
Separate and let soak in batter for fifteen minutes. Fry in hot
oil.
~~Don't throw out leftover coffee. Freeze it in ice cube trays,
and when you don't want to make an entire pot, you can get your
cubes out of the freezer and pop them in the microwave.
~~Dry Mustard will remove onion odors from your hands or
cutting board. Rub in, then rinse off.
~~Use plain baking soda or salt as a fire extinguisher.
~~Put rice in your salt shaker to keep the salt from getting
hard.
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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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