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The Budget Stretcher
Week Of: November 20, 2006
AOL Users Please Visit Online
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Grandpa Terry's Quips
Tip #27 - If you play the lottery for 4000 or 5000 years you
only have to buy 1 ticket a week to be sure of winning.
Answer To Last Week's Question
Question - You have a credit card with a $2,000 balance
at 15% interest. Your current minimum payment is $40. How much
would you save by continuing to pay $40 each month instead of
paying the declining minimum payment?
1) $200 - Pay off 3 months earlier
2) $400 - Pay off 6 months earlier
3) $800 - Pay off 1 year 2 months earlier
4)$1000 - Pay off 6 years 5 months earlier
Answer:
By making the minimum payment only, it will take you 13 years and
11 months to pay off your credit card and you would expect to pay
$2,126 in interest.
If you were to continue to pay $40 per week instead of the minimum
payment listed on your bill you would save over $1000 and pay it
off 6 years and 5 months earlier.
To learn more about paying off your credit cards visit the below
web page:
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After you have listened to this message just visit the below
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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 - Fudge
Visit Our Web Site Sponsors
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Subscriber Tip
Terry...as a former Walmart associate, who has seen firsthand, the
craziness at the layaway counter on Black Friday...you may want to
remind people that WALMART NO LONGER HAS LAYAWAY. PERIOD.
Suzy
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
For many years (in fact, as long as I can remember!) I've been
using recycled envelopes to carry my grocery coupons to the
store. First, I love the idea of actually getting some use out
of those legal-size reply envelopes that come in the junk mail
every week, and second, envelopes are great for carrying
coupons. I simply fold the flap of the envelope to the inside so
I can easily look through the coupons while in the store and, to
make full use of the envelope, I even write my grocery list on
the blank side! I am sure there are many of you savvy grocery
shoppers out there who do the same thing so just think of all
the envelopes we are recycling each year! :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
(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 know that many of you have some type of home-based business
or web site that you would like for others to see. So, starting
this week, when you submit a tip you can also include a link to
your web site, even if it's a personal site you would like to
share. All web sites will be checked before they are listed to
ensure that they are appropriate for our family oriented
newsletter.
Speaking of tips, my supply is running low again. Remember,
you can get either a free Budget Organizer or my 10 Calculating
forms if your tip is published so get them in now. Here is
where you can submit:
I have an excellent article "SAVING TIME AND MONEY AT THE
GROCERY STORE …in the electronic age By Paul Davis that I would
like for you to read. You can find it in the regular articles
section below. Also, make sure to click on the link at the end
of the article to easily find the special offers in your area.
Here is the second article that can help you get ready for
winter:
10 ways to winterize your home -- now
By Christopher Solomon
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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Support Our Sponsor
100 Tips to Double Your Dollars is here. This 20-page e-book
packed with terrific tips is totally *FREE* for a limited time
only. When you purchase any of my e-books, including "Pump Up
Your Prose, " I will send you 100 Tips to Double Your Dollars
FREE! Or, if you would like to purchase it now, it is only $9.99
Hurry-the free offer will be gone soon!
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Credit Card Information
Managing your cards: Introduction
By Bankrate.com
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Grandpa Terry's Tip of the Week
I received an email from a subscriber and think it should be our
Tip of the Week this week. I believe Kathy has some great
shopping tips. Here is her email:
Hey Terry,
Thanks again for all the help you've sent my way and for all
you do with the newsletter & site. I really do appreciate
everything.
I wanted to let you know of a site that your readers may
benefit from. With Black Friday (the day after Thanksgiving)
coming up, there will be some wonderful deals in the stores.
It's important not to impulse buy that day, but a plan of attack
can save some money on gifts or supplies that you may need
have the store circulars (some are already posted) for deals out
there that day! If you don't get the paper or want to plan your
moves ahead of time, visit the site and see what each place has
to offer.
A few tips...
If you want the big ticket items (like PC's) you have to be
there early, not when the door opens. Plan to stand outside in
the cold for at least a couple of hours. This is for the
limited/hot items though.
Split up! Take an active friend/companion with you and split up
inside the store. Let them get a few things and you go for the
rest, then hightail it to the door and go to the next stop.
Don't dawdle. This isn't the time to pick up gifts or look for
anything that you don't have on the list (that isn't on BF
morning sale). You can come back later in the day to do the more
relaxed shopping.
People are greedy and that's what usually leads to a fight. If
you put something that's limited in your cart and turn your
back, some will take it! If at all possible, carry it or keep a
hand on it while it's in the cart.
Make sure to keep your receipts and rebate forms! Fill these
out once you get home and get them in the mail the next day.
This is the best way to save money on BF (with the exception of
staying home completely). Make sure to follow the rules to a T
when filling those out.
Many stores have sales online also. You might be able to stay
home and shop in your pajamas. Visit the websites ahead of time
to see if their sales are valid online also. If you have trouble
finding this out, email the company.
Last but not least... be polite, patient and smile at someone
that day. I know it's crazy out and everyone is in a frenzy, but
one small smile can make a persons day. Especially those working
at the checkout.. lol.
Hope this helps someone get a great bargain!
Kathie
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Site of the Week
Frugal For Live Blogspot
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Grandpa Terry's Email
Terry, the budgeting organizer isn’t working for me with the
percentages. We don’t pay any mortgage on our house (we now own
it) so there are no Housing Expenses to warrant the 30%. Only
Land Rates and House Insurance.
I have purchased the Excel Budget Forms so the calculations
aren’t working as I would want them to. Also, I use a credit card
for our household expenses to help me keep a better track of my
spending on each category. Yes, I realize you recommend using
cash, but I don’t like having cash in my purse as its too easy to
spend on other things. The CC works for me if I pay all my bills
with it each week, then transfer this amount from my checking
account to it.
I was hoping to use the budget organizer as some weeks we have
more bills to pay than we do income, hence using the credit
card. I get paid fortnightly and my husband weekly, so I try to
pay the bulk of our bills on my pay week. It makes it a bit
complicated to work with.
Hope this makes sense.
Regards
Jenny
My Response:
Hi Jenny,
The budget organizer's percentages are simply targets and can
be adjusted to fit your budget. It looks like the main problem
that is causing you to use your credit cards to pay your bills
is that you have too much coming out on given pay days. Using
your credit cards, if you pay them off each month, is fine.
However, if you carry a balance, this could lead to big problems
in the future as the balances will increase significantly.
Here is a tip that might help. Go to your budget organizer and
use the Monthly Bill Summary Part 2. Organize your bills so that
you have an equal amount coming out each payday and can still
pay the bills on time. This should eliminate the need to use
your credit cards to pay your bills.
I hope this helps,
Terry
-------
Hi Terry,
Just wanted to drop you a quick note and tell you about my
budget. It's a little strange, but it's working for me, and in 3
months I have paid off over $1500 in debt. And I only bring home
about $1200 a month from my job.
Here's what I'm doing:
I make payments to the credit card companies every 2 weeks when
I get paid. First I write checks and pay the usual living
expenses, rent, phone, electric, etc. I have no car payment.
After that, I'm putting a small amount into savings, only about
$20 a paycheck right now, but better than nothing. I have so
much debt right now (about $18, 000 total) that I figure I'm
actually saving money by putting most of my money towards the
credit cards. After the savings, most of what's left of my check
goes to pay off debt.
As for spending, I'm still using the Discover Card for the
cash back but I'm paying the full balance every month. I've been
only buying essentials, such as groceries, gasoline, toiletries,
and clothing, but now that the holidays are coming I'm trying to
pick up a few gifts every couple weeks instead of buying them
all at once. I work at a hospital, and I've discovered that
eating in the hospital cafeteria is cheaper than groceries. It's
a payroll deduction when I buy food there, but I'm going a full
pay period spending only about $40 on food there, and maybe
another $20 for a few essentials for home. (I'm single, with no
kids, so this works for me!!)
I'm also trying to find a part time job for the season to split
between the credit card and the savings account.
I have a home based business and earn another $100 or so a
month, sometimes more. I also have rented out my spare bedroom,
which brings me an additional $200 a month. Another thing, I
actually tried debt consolidation, but found it would be cheaper
to just negotiate with my credit card company. The card with the
high balance is with Bank of America, formerly MBNA. I found
that the only way to negotiate with them is by letter, every
time I call I get told they can't help me. After the first time,
I followed up with a letter and had my APR reduced from 24.99%
to 2.99%!!!! So I guess what I have is sort of a non-budget. All
I'm really doing is keeping track of my spending, paying my
living expenses first, saving a little bit, and paying down my
debt, paycheck by paycheck. It feels nice to finally be in
control again!
Take care, and have a great Thanksgiving.
Kim
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Subscriber Tip
For readers looking to give away or receive something useful
FREE, Freecycle on Yahoo Groups has a group in many major
cities. It's a great resource for anything from Halloween
costumes to food items to major appliances. We use it regularly
and have given away various items as well as acquired a working
computer monitor and microwave. Check it out.
Leslie
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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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Budget Stretcher Partners
Thrifty Fun
SavingAdvice.com
Smart Money Tips
TheFrugalShopper.com
4 Moms at Home.com
Debt Smart
Maxxsave.co.uk
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Subscriber Tip
To get at least two more goes of makeup after they (appear to
be) are empty - put the bottle, jar, tube in a container of
boiling water and leave until it cools. You will be amazed at
how much is left around the sides. This applies to hand cream
etc als. Another way with anything in tubes is to cut the
bottom off the tube and cut up one side - quite a lot adheres to
the sides of the tubes.
Lorraine
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This Week's Article Links
Just click the links to view the article
SAVING TIME AND MONEY AT THE GROCERY STORE
…in the electronic age
By Paul Davis
Missed mortgage payment? Catch up, pronto
The Debt Adviser by Steve Bucci • Bankrate.com
How-To Warm up Your Thanksgiving Décor, with "Creativity, Not Cash!"
By Kathleen Wilson
To read more articles visit:
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Join These Groups
A_Simple_Life
Frugal-Folks
FrugalMomsNews
FunOnABudget
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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%
P - Provide one monthly payment
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Special Recipe
Holiday Cooking
Fudge
2 cups sugar
3/4 cup milk
1/2 cup cocoa, packed
2 Tbsp. shortening
2 Tbsp. light corn syrup
1/4 tsp. salt
2 Tbsp. butter
1 tsp. vanilla
Combine sugar, milk, cocoa, shortening, corn syrup
and salt in a 2 quart saucepan. Cook over medium
heat, stirring constantly until mixture boils. Cook,
stirring occasionally to 234 degrees. Remove from
heat, add butter and vanilla. Do not stir. Allow
fudge to cool at room temperature without stirring
until it reaches 110 degrees. Beat until fudge
thickens and loses some of it's gloss. Quickly, pour
fudge into a lightly buttered 8x8 inch square pan.
This recipe compliments of The Best Cookbook Anywhere Not Just
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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.
SHOPPING TIPS
WHILE SHOPPING
~~Always check the expiration date on dairy
products.
~~Avoid anything disposable.
~~Convenience foods are more expensive, you are trading money
for time. Slice, season, mix, and cook it yourself.
~~Always check the day old bread basket, and the reduced
merchandise cart.
~~Always ask for a rain check if an advertised special is out
of stock. While you are waiting for the product to come back in,
look for more coupons for that product.
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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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