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The Budget Stretcher
Week Of: October 9, 2006
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Grandpa Terry's Quips
Number #29 - Never grocery shop when you are hungry. If you
have teenagers that means they can never go shopping with you.
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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 - Shepherd's Pie
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Subscriber Tip
If you have to use dryers at the Laundromat, start with using
only one quarter per dryer. About halfway through the cycle,
feel the front to make sure the dryer is working. If it's
warm, go ahead and add more quarters for more time. This will
save you putting in quarters into a dryer that may not work --
and if it doesn't, you're only out 25 cents. This
helps particularly in Laundromats where there is no attendant
(ie, 24 hour Laundromats).
Jim
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
Another great source for grocery coupons is right on the item!
Sometimes these coupons are just for a certain amount of money
off the item itself and sometimes you can get up to a dollar or
more off if you purchase another item along with it. I usually
don't pay much attention to these ‘combo' coupons, but recently
I got an extra $1.00 off because I just happened to want both
items and purchased them on the same shopping trip. So pay
attention to those little glued on coupons and pull them off the
item so the grocery clerk doesn't miss them at the checkout
counter!
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.
OK, OK! It seems that several of our subscribers missed the
deadline to subscribe to Budget Stretcher Premium on October 1st
so I have decided to run the lower price for subscribers only
for 1 more week.
You can subscribe to BSP between now and October 16, 2006 at
the lower price of $11.95 and lock in the $5.95 renewal price.
I'm going to list the payment link here but you can visit BSP
to learn more at the below page: (Be sure to return to this
email to subscribe)
To pay only $11.95 please use the below link:
I'm going to try to offer an ebook occasionally for only $2 from
my site at $2 Online Books.com that I think you will enjoy. This
week, just in time for Halloween is the first. You can get
"Halloween Recipes & Crafts" which is a 286 page ebook loaded
with delightful and delicious Halloween recipes and crafts.
Why not add a little spice to your kids Halloween this year. (I
particularly like the "eyeballs"!) It's only $2 and you get a
money back guarantee if you don't like it. Oh! And you can sell
it too.
To order your copy use the below link:
If you are considering doing some Fall Decorating you may want
to enter TheBudgetDecorator.com's Fall Decorating Contest. The
prizes are great and it's easy to enter. Just visit the below
link:
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
To sign or not to sign?
By James Ambrosio • Bankrate.com
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Grandpa Terry's Tip of the Week
Here is a reprint of my article on how much you could save by
adding a few dollars to your mortgage payment. To view the
article online and see a chart showing more information click on
this link:
Add A Few Dollars To Your Mortgage Payment
Many of us don't believe that a few dollars can make a big
difference. In a lot of cases that is true. But when it comes to
mortgages or any other type of loan, a few extra dollars can
save you Big Bucks.
The chart below gives examples of three different loan terms
and what paying between $75 to $100 more a month would do to the
mortgage. It is based on a $100, 000.00 loan at 7% interest.
By adding $84.70 to your 30 year loan you can save $45, 513.14
and pay the loan off in 21 1/2 years.
By adding $74.70 to your 20 year loan you can save $16, 662.42
and pay the loan off in 16 1/2 years.
By adding $101.07 to your 15 year loan you can save $11, 271.73
and pay the loan off in 12 1/2 years.
There are a couple of things that you need to check. First is
that your loan agreement doesn't allow the loan company to
charge penalties for early payment. Secondly, if you itemize
your federal income taxes and deduct mortgage interest, paying
less interest will mean a lower deduction. I believe it is safe
to say that the interest savings will far outweigh the tax
savings.
Even if you don't have $75 to $100 a month to add to your
mortgage payment, even $25 would save a lot.
If you would like to have your own Loan Calculator, just visit
Plus. This is a free version and has everything the average
family can use. It is also the Loan Calculator I have used for
several months. Highly Recommended.
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Site of the Week
All Things Frugal
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Grandpa Terry's Email
Hi Grandpa Terry!
The members have had some great ideas. I decided to close my
checking account and reopen a new one to keep their hands off my
income. I'm already working seven days but will try to get some
more hours for a while. I will also try to mollify these folks
with small payments - maybe interest only if I can do it - until
the land sells. Thanks for not laughing at me - I feel like an
idiot. I really learned my lesson. I also really appreciate your
attempts to help me with this mess. Thank you so much! God Bless
you!
Catherine
-------
Terry -
Here is a website I would recommend to the woman in today's
newsletter who had questions about how much she should be saving
This is for a simple two-page form (called Ballpark Estimate)
you can use to get an idea how much you need to save for
retirement. I used it and found it very helpful. It's part of a
program called Choose to Save, and there's lots of other info.
on the website, too.
Kathy
-------
For the reader with the short term loan he can't pay back:
I would suggest talking to any financial institution you
currently have a relationship with - bank or credit union. See
if you can take out a longer term loan with lower monthly
payments, and pay off the other loan (have them issue a check
directly to the other lender). If the bank or credit union has a
long-term relationship with you, they should be able to see that
this loan will only cost you more money and get you into deeper
trouble. Many banks, and especially credit unions, offer
financial counseling, and may be able to come up with a creative
solution to this problem.
If the land you are trying to sell is paid for, maybe you can
get a loan against the land, to be paid off when it sells. That
way you don't have to come up with the money right now.
Kathy
-------
Terry,
I'm 99% certain the gentleman can eliminate that loan through a
Chapter 7 bankruptcy it's not a secured loan, so there's
nothing they could repossess on him (unlike his vehicle).
However, I'm sure your readers know what a bankruptcy will do to
a person's credit, so I won't get into that in this email.
One word of note: If he were to file for Chapter 13 bankruptcy,
there's a very good chance he will end up paying it back through
a repayment plan…and if he defaults on that, they will once
again come after him for the money. A "13" only buys time, as he
doesn't have to pay anything once he files, but once the
repayment plan is established, the payments begin and if he
can't make the payments now, there's a slim chance he'll be able
to make them at that time.
I hate to encourage anyone to have to resort to bankruptcy but
sometimes bad things happen to good people, and if I had to
choose between the two, I'd go with a Chapter 7.
--Jim M.
-------
Keep in mind that I do not know the full amount that you have
borrowed, or the financial difficulties you have been having.
The advice I am giving is general advice of what I would do if I
found myself in the circumstances described.
As I see it, there are a few steps to take to get out of the
problem. First, you have to find a way to get the payday people
out of your life. You can borrow money on the land you are
trying to sell, borrow money from a family member or friend, or
even take out one of those zero percent charge card offers or
surf the money over to a card. Anything is better than one of
those payday loan places. As you have discovered, they charge
upwards of four hundred percent interest if you figure it all
out!
Second. Sell stuff off. Have a huge garage sale. Sell stuff on
ebay. I do not know what kind of car you are driving, but can
you sell it and drive a cheaper car? I drive over fifty miles a
day in a 1985 Chevy. It is ugly, but reliable. And the taxes and
insurance are priced right.
Third, consider the possibility of a second income. Can you
throw papers or pizza? Can you do some kind of work on the side?
Babysit? Houseclean? Fall yard work for the elderly or those too
busy to do it themselves?
It should go without saying that until you are out of this fix,
you need to cut spending to the bone. Lots of split pea soup or
equally cheap food. I am amazed when some friends I have who are
doing things like payday loans go out to eat every day for
lunch, buy their kids a late model car for high school
graduation, fully fund their cell phones, and more. Scrutinize
every expenditure for a short period of time to be sure it is
absolutely necessary. Food, reasonable clothing, utilities, and
transportation come first. Then this payday loan thing. Then
everything else.
I hope some of this helps.
Ann
-------
I enjoyed reading about you and your one man operation. I think
you do a wonderful job. I have no debt at all other than taxes,
insurance, utilities, upkeep, groceries things we cant avoid. It
wasn’t always that way Years ago I had credit cards and used them
instead of the cash in my purse. Why not? After all the credit
card payment was only 25.00 a month sometimes more BUT get
several credit cards at that rate not paying them in full each
month plus the interest on each one YOW! Luckily I learned
quick. Since those days I have learned to ask myself before I
buy anything "Is This A Need Or A Want?" As you know its usually
a want. I am grateful to be debt free but still enjoy your hints
and ideas to keep me that way!!
Keep on doing what you're doing! Great job Terry!!
Carol Sand Lake MI
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Subscriber Tip
Hello Grandpa Terry,
A money solution for my family has been to have a budget and to
use the cash envelope system. The envelope system really keeps
you in line as you can only spend the allotted amount of cash
that is in each envelope. I also plan a tentative budget up to
four months in advance and then fine tune it as the appropriate
month comes around. It helps you to think of the expenses that
are not every month and budget for those.
I hope that these ideas help someone.
AA
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Subscriber Tip
For those that don't know, Walmart is going to stop doing
layaway in November of this year.
For people with small children, or those with low incomes,
layaway is a huge help with Christmas and back to school time.
Someone has started this petition. If you will be affected by
this change, and want Walmart to know it, then please add your
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This Week's Article Links
Just click the links to view the articles
In debt? Get out in 3 hard steps
The Debt Adviser by Steve Bucci • Bankrate.com
Tips to Save Money on Restaurants and Entertainment
By S. L. Simmons
One of the Wisest Investments You'll Ever Make
By Lyle Evans
To read more articles visit:
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Special Recipe
Shepherd's Pie
1/2 lb. ground beef
1 onion, chopped
2 carrots, diced
1 can peas, drained or
1 can mixed vegetables for carrots and peas
1 (15 oz.) can tomato sauce
salt and pepper (to taste)
1 tsp. sugar
2 tsp. onion powder
1 tsp. garlic powder
1 tsp. chili powder
4 cups mashed potatoes
3/4 cup grated cheddar cheese
Brown ground beef and onion. Add carrots and cook until tender.
Drain grease and add peas. In a casserole dish, combine
tomato sauce, salt, pepper, sugar onion powder, garlic powder
and chili powder. Mix well and add the beef mixture. Mix
again thoroughly. Top with mashed potatoes and then grated
cheese. Bake in the oven uncovered at 350 degrees for 15
minutes or until the cheese melts.
This recipe compliments of The Best Cookbook Anywhere Not Just
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Everyday Savings
These Tips provided by The Frugal Shopper
~~To keep the corners of your windowsills free of dust and
moisture, rub a white candle into each corner of the sill.
~~If your polished furniture has small scratches: Try rubbing
them with a shelled walnut. You'll see the scratches just
disappear!
~~Keeping silver jewelry in a zip lock or air tight container
will keep it from oxidizing.
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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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