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The Budget Stretcher
Week Of: December 18, 2006
AOL Users Please Visit Online
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Grandpa Terry's Quips
Tip #24 - Christmas shopping should start on December 26th.
That's when the real sales are.
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Free Grocery Secrets
Discover how my simple manual can quickly and easily save your
family thousands of dollars per year in mouth watering free
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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 - Maple Ham (Slow Cooked)
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Subscriber Tip
We have 4 kids. Christmas can get expensive quickly. We set a
budget and sat down and asked the girls what they would like.
Our 11 year old said cash or gift cards. This got us
thinking...is Christmas just about money? Our children most want
our time. So, we made coupons for them for gifts: to pick out and
rent the movie for that Friday night, manicure with Mom, ice
cream with just Dad, play at the park with a parent, invite a
friend to spend the night, etc. This way the money for the extra
items are budgeted and the kids get to have their focused time.
Thanks again for all the tips.
Lisa
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
Did you know some warehouse membership stores accept
manufacturer's coupons? While the stores we have tried in other
states (Sam's and Costco) do not accept coupons, BJ's here in
Atlanta does! I had never even heard of BJ's before we recently
moved back to Georgia but accepting manufacturer's coupons
certainly gives them the edge over the other two stores that are
also available here. If you have more than one warehouse store
in your area you might want to check this out!
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.
Since this is the last newsletter until Christmas Day, I'm going
to wish all of you a very Merry Christmas. I know many of you
will be busy next week and may not get to the newsletter until
after Christmas.
As usual, there will be about 20 to 25 people at "Grandma and
Grandpa's" house this Christmas. All of my kids and grand kids
and friends will be here. To me and my wife, JoAnn, that means
so much more than all of the presents we have ever received!
Like I mentioned last week in our newsletter, I would like for
you to put your "Money Worries" aside just until the holiday
season is over. We will have plenty of time to worry next year!
Your last chance! You still have time to order your "Clauscasts"
and start enjoying Santa explaining the important facts about
his coming visit. I'm serious, these MP3s are fun for kids
and adults. Please check it out at:
I can't remember if I mentioned that I have taken my daughter's
web site "Freebie Haven" and added several new freebie sites.
There are links to more than 50 on this page with more to come
in the near future. If you are interested in freebies why not
visit my new site 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
Refunding Your Way Out of Credit Card Debt:
How to Maximize Your Tax Refund
By Nancy Castleman, CardRatings.com Consumer Reporter
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Grandpa Terry's Tip of the Week
First printed in the December 20, 2004 issue of The Budget
Stretcher:
Some Thoughts On Savings vs. Debt Elimination
If you've been a subscriber to our newsletter for any length of
time you already know where I stand on credit cards and how
important it is to get out from under them.
Unless you pay the balance off completely each month you are
going to pay a lot of interest and possibly late fees and
penalties.
However, credit cards aren't the only debt that needs to be
eliminated. You will also pay a lot of interest on things like
installment loans and even mortgages.
I received an email from a lady this week that was trying to
establish her credit. She stated she didn't have any debt and
needed to establish her credit.
The first thing I told her was that many of you would give
anything to be in her shoes. Can you imagine not owing anybody
anything.
It seems like I preach constantly about the need to have a
savings account in order to be prepared for unexpected expenses.
I've changed my tune on that, but just a little.
While I still believe in the importance of a savings account I
also think that paying off your debt any way you can, as fast as
you can. The system I have for paying off your debt by
snowballing it is the easiest way I've seen so far. If you want
to read about this just visit:
Tax refund time is coming and this would be a perfect chance
for you to get a head start on eliminating a big part of that
debt this year.
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Site of the Week
Freebie Haven
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Grandpa Terry's Email
Topic of Discussion
Hi,
I have been researching the homemoneyhelp website, looking for
a way to start 2007 with a new way of life. I am almost 40,
married for 18 years, a full-time (distance learning) student
and stay at home mom. My husband just landed a very good paying
job (the first one he has ever had that pays him what he is
worth) and I really want to get us in a good-sound financial
state. I have always been AWFUL at finances and keep us buried
in debt (mostly credit cards). I do not buy expensive clothes or
personal items...but I am one that gets something we need,
before paying my bills (ignorant, but true). I am very
interested in doing the personal budgeting program; however, I
wonder what the $100 pledge means? I looked at the example
sheets that are included with your report and I just don't
understand what that pledge does. Can you clarify this for me?
I really am sick of riding this roller coaster of debt--I find
myself robbing Peter to pay Paul, week after week and I'm just
exhausted with it. I will have my teaching degree in two years
and hope to start my new career (though very late in life) with
a good financial base for a prosperous future.
I appreciate your insight and hope to be ordering the budgeting
help soon.
Sincerely,
Christy
My Response:
Hi Christy,
Thanks for your interest in my Debt Elimination Program. Sorry
it took so long to get back to you.
The Pledge amount is set by you. Please don't mistake this for
a program that is operated by someone else. You are in complete
control of how much Pledge money you allow.
The way this works is that you write down all of your debts
with the minimum payments. Then you decide if you would like to
add more to your payments (pledge money). I will take this
information and provide you with a month by month payment
schedule. You make the payments and, if you can't afford the
pledge money some months, then just reduce the payments
If you have any other questions please don't hesitate to ask.
Here is the link to order the Debt Summary.
All the best,
Terry
-------
Hello Terry,
I receive your newsletter - thank you! I'm wondering if you
could give me some pointers on how to deal with aggressive
creditors. My husband and I were both IT contractors however he
was laid off last Weds. He had 2 days notice, and we are
crossing our fingers his last paycheck actually arrives in
direct deposit on Friday. We have been in the process of calling
everyone to try and work out payment arrangements as we are one
of the many that live paycheck to paycheck. Three places that
have been completely unsympathetic and will not budge are
Colorado State (paying back tax bill), Military Star Card (we
are way behind and they did garnish our military retirement -
husband is a 20 year Coast Guard vet retired 2000), and our main
vehicle financed through WFS Financial.
Colorado State we are to fill out a form showing our income,
outlay and then maybe they will consider a reduction, they would
not allow us to send less this month. We have about 10 payments
left @ $250 a month
Military Star Card - maxed card at $6000, payments are supposed
to be $185, they garnished at $385 several months back to catch
up the payments - the e-mail my husband received from them the
other night was rude, and said that if we didn't catch it up or
pay the whole bill off now, they would garnish retirement and
our income taxes
WFS Financial has our auto loan. They claim there is nothing we
can do as we cannot miss a payment till we have made 12 payments
and we have only made 11. We asked them if there was anything we
could do to reduce our monthly payments and they said no - our
payments are $591 a month.
He is eligible for unemployment - however, the company we work
for has failed to file unemployment taxes with the state of
Colorado (they are in Kentucky) for two quarters. So we had to
fax all pay stubs from July on. Our manager who was caught up in
the earlier round of sweeping cuts back in October, also had
missing unemployment taxes and he just got his first
unemployment check last week! Maybe everything will go okay and
we might have an unemployment check in about 3 weeks, but we are
not counting that income at all. The payment from the state is
$435 a week minus taxes. Jobs are pretty scare in IT in northern
Colorado, and we are learning there are some things I guess you
don't put on a resume - such as what seems to be a negative
thing in hinting at your age by putting down you were in the
military for 20 years. There are probably more jobs in Denver,
but with a 60 mile one way commute, it has to actually make
financial sense first.
We have managed to of all things get a reduced payment (by
almost $600) from the IRS, back Fed taxes and everyone else. In
sitting down right now, our monthly net income from my pay and
his retirement is $4409, no unemployment factored in. Monthly
bill outlay including mortgage and car payment is $3910, leaving
us with $499, no food, no gas. According to the government, we
are allowed $1437 in reasonable monthly expenses for food,
necessary items and car operating costs - if we allowed for that
we would be $938 in the hole.
Everything we do is cash and carry, we have no credit cards
like visa etc., so when something breaks it comes out of the
paycheck. We had a bankruptcy that was discharged in 2000 and I
never wanted to see another credit card. Unfortunately we did
open the Military exchange credit card and it immediately was
maxed out.
Anyway I give you this background not to whine, but just to
give you an idea of our situation, and to see if in your
experience you know of any way to approach these unbending folks
to get them to please work with us. I'm really most concerned
about the Military Star card as they are allowed to garnish
military retirement.
Please let me know what your consulting rate is, I wasn't sure
how you billed for your time for situations like this.
Thank you so much,
Rosemary
My Response:
Hi Rosemary,
I'm really sorry to hear about your situation. I'm retired Navy
myself. For my newsletter subscribers by hourly rate for
consultation is $0.00!! That's what I'm here for.
To answer your main question first, nobody can garnish your
retirement or anything else without a court order issued after a
law suit. The main violation I see is their threats. This is in
direct violation of the Fair Credit Reporting Act. So that you
will know your rights when dealing with these people please
visit the below link at the Federal Trade Commission's web site:
Here is something I've recommended several times and sometimes
it works and sometimes it doesn't. I want you to call each of
your creditors back. Write down who you spoke to, when you
called, the department you reached and the telephone number and
extension. Also, write down the just of the conversation. Keep
this info. This goes for the state of Colorado also.
Now, when you reach someone be direct and explain to them that
the money just isn't there right now to meet your obligation and
that you need their assistance, just until you get back on your
feet. When they start to say there is nothing they can do, stop
them. Tell them that you want to speak to a supervisor because
you are sure that they can work with you. You are not trying to
dodge the debt, just delay it until you've had time to get on
your feet. Also, mention that you are willing to incur
additional costs if they can just add the payments on to the end
of the contract. If you get the same response, ask to speak to a
manager. Be firm and persistent. Sometimes it helps to offer a
complete rundown of your income and expenses.
About 25% of the people that I deal with that lose their jobs
end up starting their own business or consulting firm using
their skills. This doesn't have to cost a lot to get started.
It's worth considering.
Under the circumstances you will need to set your priorities. I
have an article that explains this in detail that I would like
for you to read. It is very important that you take care of the
necessities to avoid real problems in the future. Here is the
link:
I hope this helps. If you have any other questions please don't
hesitate to let me know.
All the best,
Terry
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Subscriber Tip
Instead of fabric softener in your washing machine - use white
vinegar. This not only saves money on the wash but saves heaps
in washing machine repairs. all that gunk that is usually at the
bottom of the filter will miraculously go! A washing machine
repair man told a friend that a lot of the repairs they have to
do for blocked up machines is from a build up of fabric softener.
The white vinegar gets all the soap out of the clothes and you
will find that they look cleaner too! White vinegar is
invaluable in the home - I keep some (neat) in a spray bottle
and use it to clean bath, basin, toilet seats and bowl(outside),
shower, benches - I even spray it on the floor and then mop -
you don't need water - it is a disinfectant as well.
Lorraine
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Finally Organized, Finally Free
An amazing collection of 1, 300 organizing tips, ideas and
techniques to help you organize your home, your office and your
life!
Clutter-control tips for every room in the house. Time
management systems to help you gain extra hours in your day.
Super ways to organize the paper monsters in your life. Ideas
and systems to keep you motivated, and so much more!
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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
I just joined Couponaholics Club, where you send your wish list
of coupons you would like to receive and you send them coupons
you can't use. In return, they send you the coupons you can
use! What a great and easy way to get coupons you want! To join
go to
Nancy
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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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This Week's Article Links
Just click the links to view the article
Surviving Winter Break
By Amy Allen Clark
Christmas On A Budget!
By Tawra Kellam
Fabric Gift Bags
By Joyce Moseley Pierce
To read more articles visit:
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Join These Groups
A_Simple_Life
Frugal-Folks
FrugalMomsNews
FunOnABudget
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Special Recipe
Holiday Cooking
Maple Ham (Slow Cooked)
1 ham
3/4 cup maple syrup
4 tsp. ground mustard
2 cups apple juice
4 Tbsp. cornstarch
3 Tbsp. water
2 Tbsp. margarine
6 tart apples, cored and sliced
Combine 1/2 cup maple syrup and mustard. Pour over ham before
baking. Pour apple juice in the bottom of the roasting pan.
Bake ham at 250 degrees for 1 hour. Reduce the heat to 175
degrees and roast another 12-15 hours. This is great because
you can put in the oven overnight and it will be ready the next
day for the noon meal. The cooking time can go for longer if
needed to fit your schedule, since it is at such low
temperature.
Remove and keep warm. Transfer juice to a saucepan. Combine
cornstarch and water in a bowl and stir until smooth. Add to
saucepan. Bring to a boil over medium heat and boil for 1
minute until thickened. In a skillet, melt margarine over
medium heat. Add apples and 1/4 cup maple syrup. Cover and
cook for 10-15 minutes, stirring occasionally. Slice ham and
serve with apples and gravy.
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.
~~Close off unused rooms. If you currently heat and cool several
seldom-used rooms in your home, you are wasting energy and
money. Consider closing the air ducts and doors in rooms used
mostly for storage and occasionally for guests. Closing unused
rooms may reduce heating and cooling costs by up to 20 percent,
depending on the proportion of your home's total square footage
the closed rooms comprise. Check with the dealer of the heating
and cooling system in your home to determine whether closing off
rooms has the potential to harm the system.
~~Sharpen your own scissors by using them to cut fine grade
sandpaper. About a half dozen cuts should do it!
~~Did you know you can freeze milk? Next time it is on sale,
pick up several gallons and freeze it!
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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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