Fabulous Financials

Is it possible for a person to become addicted to bargain hunting? After reading this MSN article, “When bargain hunting is an addiction,” I learned something new. People who buy things just because it’s on sale, whether they need it or not, are called bargain junkies. LOL! Six signs that you may be a bargain junkie are:

1. They hit sales and clearance racks when they feel angry or down.
2. They spend more than they can afford.
3. They see sales as opportunities they can’t pass up.
4. They feel guilty about their shopping and hide their purchases.
5. They spend so much time tracking down deals that their time with family and friends is compromised.
6. They routinely forget what they bought and find things in their closets unused.

Then it hit me. My mom is a bargain junkie! I can recall a few useless things she’s purchased over the past year. Umm, let’s see.

She sent BabyGirl a pair of bright red slacks and a blazer. *blink blink*
Her thoughts, “oh she can play dress up, they were only $5!”

Then there was the superman lunch box.
Her thoughts, “she can use it as a pencil holder or something, I found for 50 cents!” *blank stare*

Or how about the sweater that was 3 sizes too small.
Her thoughts, “girl if she can’t fit it, put it on the dog! It was only $2!” *dead*

Needless to say, BabyGirl receives a new package from my mother at least once per month. But she’s rarely excited about opening them. Can’t blame her. My mom is a bargain junkie!

Have you ever bought something silly just because it was on sale?

There’s a bank I hate. You know, the one I was with for many years but they didn’t think I was worth $4.00, so I closed multiple accounts all in one day? Then they reversed the $4.00 charge to persuade me to stay, but I told them to KMA in bank-anese? Yea, that one. Well they sent me a dumb azz email today with an “exclusive” offer for its “most valued customers” only.

From the email:

Extra Cash Online is supplemental income insurance that helps you cover your expenses if you can’t work. Get cash each month paid directly to you when you’re not receiving a regular paycheck due to a covered event.

First of all, this is clearly referred to as “supplemental income” insurance so let’s not confuse it with the useful benefit of “disability” insurance. In that case, WTF is a “covered event” and how do you determine “if you can’t work?”

Can I quit?

Can I get fired - on purpose?

Can my child be sick?

How about if my dog is sick?

What if I just feel like taking a month long hiatus for mental health purposes?

Oh, and it will only cost you $9.30/month if you want to receive a $500/month payout for 3 months. But remember, it’s only if “you can’t work” due to a “covered event.” Ambiguous much? And it gets better! That’s only the standard plan. You can pay from $10.65 to $20.75/month if you want to extend the $500 payout to 6 months or receive a $1,000 payout for 3 months.

The extra cash plan is flexible and affordable! Whichever option suits your needs and your budget! Sign up right away…it’s quick and easy!

[/sarcasm]

That’s a bunch of bullshyt. How about you keep your money, screw the bank’s profits, pay yourself FIRST, and create your own “extra cash” plan. Hmm…the setup is awfully familiar.  It reminds me of something.  $500-$1,000? 3-6 months of expenses? Use it only when you need it? By golly, that sounds a lot like an emergency fund to me. Wow, what a novel idea!

*blank stare*

This is simply bait for poor people who don’t know any better. And we wonder why the rich get richer while the poor get poorer.

*sigh* I hate that bank even more now.

[/rant]

I don’t know about you all but January makes me feel like I have postpartum depression. It’s been nearly 16 years since I’ve delivered a child, but it’s only been three weeks since my purse strings experienced the most traumatic event of the year - holiday shopping.

Now that all gifts have been unwrapped (or returned lol), family has gone home, decorations have been stored away, and everyone is back to the grind at the office, how do you deal with the lingering effects?

I’ll tell you how I’m dealing. It’s the pits and I’m not happy!!

Although I didn’t finance anything with credit card debt, I’m still going through the motions. Being a bad girl, I spent more than I earned in December, so my shopping frenzy threw my budget spend plan out of whack. And from the looks of things, it may be February before things return to normal again. Because of this, I have to delay others things I really want to do. For example:

• I got a new haircut for the New Year and I want my layers highlighted - can’t afford them.
• BabyGirl wants to attend the 2008 Teen Fashion Battle - can’t afford the tix.
• My girlfriend just settled on her first home - can’t afford to congratulate her with a gift.
• My other girlfriend just turned 30 and I’m traveling for her party - can’t afford to buy her a birthday gift.
• My other girlfriends want to hang out and handle grownfolkbidness - can’t afford to buy a decent bottle of wine, a decent restaurant for lunch/dinner, or any other mid-priced event. Only cheap-o activities (read: FREE) for me.

All of this just because I spent nearly $1,000 on gifts last month? Considering everything I have to give up just to get back on track, it makes me wonder if it was really worth it. *sigh* I’m so depressed…

[image credit: bigandtalltshirts.com]

~*~*~*~*~*~
Work to achieve, not to acquire.
And as always, BE FABULOUS!

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I don’t even know what to say about the current mortgage industry. I don’t want to pass judgment on the borrowers and I don’t want to place all the blame on the lenders. But there’s one thing I do know for sure - it is affecting the entire US economy. Ruthless scammers are trying to take advantage of the uninformed, savvy investors will profit from their misfortune, the government is making futile attempts to help, tax dollars will be wasted, home values are rapidly declining, and responsible borrowers are pissed…and rightfully so.

In my opinion, it’s just a hot butterball mess!

If you are one of the thousands of Americans who may lose their home due to an ARM rate adjustment, I highly encourage you to do YOUR OWN research, educate yourself, and explore your options BEFORE that time comes. For those who live in the DMV, you’ve probably heard of the NACA program - Neighborhood Assistance Corporation of America. From their website:

NACA is a national non-profit community advocacy and homeownership organization providing the best homeownership program in America.

It’s a national organization with various locations throughout the country, but if you haven’t heard of it, here are a few quick links to help you:

• Their refinance eligibility criteria.
• Their refinance questionnaire to initiate the evaluation process.
• Then you have to register and attend one of their 4hr workshops. Upcoming local workshops:In DC –

  MLK Library
  Date: 12/29/2007
  Time: 10:00 AM - 2:00 PM
  901 G Street NW
  Washington, DC 20001

  Plymouth Church
  Date: 01/05/2008
  Time: 10:00 AM - 2:00 PM
  5301 North Capitol Street
  Washington, DC 20011

  The Arc Theater
  Date: 01/19/2008
  Time: 10:00 AM - 2:00 PM
  1901 Mississippi Avenue SE
  Washington, DC 20020

  Phone: (202) 328-6333
  Fax: (202) 328-6388
  Office Director: Keith Johnson

  In Bmore –

  Enoch Pratt Library Northwood Branch
  Date: 01/12/2008
  Time: 10:30 AM - 2:30 PM
  4420 Loch Raven Blvd
  Baltimore, MD 21218

  Enoch Pratt Free Library (Central Branch)
  Date: 01/19/2008
  Time: 10:30 AM - 2:30 PM
  400 Cathedral Street
  Baltimore, MD 21201

  Enoch Pratt Library Northwood Branch
  Date: 01/26/2008
  Time: 10:30 AM - 2:30 PM
  4420 Loch Raven Blvd
  Baltimore, MD 21218

  Phone: (410) 783-0465
  Fax: (410) 783-1525
  Office Director: Ashidda Khalil

• A summary of the entire 10 step refinance process that could potentially help you save your home.

If you are found eligible, their ‘current’ rate is 5.25% for a 30 year FIXED mortgage. This is NOT another lending scam that offers creative re-financing to lower your payments or cash out equity. Unless you are savvy with your finances or an expert real estate investor, ‘creative’ anything is the last thing you need right now. NACA is a legitimate program that helps homeowners who are struggling to pay their mortgage as a result of poor lending/buying decisions.

I wish I knew about NACA two years ago when I was buying. I’m not eligible now because I own investment property, but a close friend is using the program to buy her first home. She’s going to settlement on the 28th and I’m so happy for her! She locked in a 30 year fixed rate (less than 5%) AND she doesn’t have to pay any closing costs. From what I understand, it’s a lengthy process, the requirements are VERY strict, and the program requires personal accountability and volunteer effort. All good things if you ask me.

For someone who may be losing their home - primary residence - comfort zone - safe haven - pot to piss in and window to throw it out of - you’ve got nothing to offer but time and effort. And from my friend’s account, it’s definitely worth every minute. But don’t take my word for it. Check it out for yourself.

NACA: Neighborhood Assistance Corporation of America

[This is NOT a sponsored post, just a hat tip for a reputable organization that I support.]

You all might think I’m crazy but I really, really, really HATE cash. It disappears too dang quickly and I don’t know where it all goes. Prime example:

Several colleagues and I had lunch at Tivoli’s: large party, one check, automatic 20% gratuity. The bill was ~$280.

No problem.

However, out of 10 people, only 3 came prepared to pay with cash. *sigh*

Problem.

To avoid the confusion that was about to ensue, I offered to pay the bill with my credit card and we would worry about the distribution later. Back at the office, I gave the admin my receipt. She calculated the cost of everyone’s meal and drinks (plus tax and tip), then sent an email to each person with how much they owed me. Their combined total was $255.

No problem.

By COB the next day, I was given an envelope with $280 cash. Did I mention these were very generous colleagues? LOL I can probably guess who, but apparently, someone insisted on paying for my meal.

Of course, NO PROBLEM. LOL!

Unfortunately, it’s been less than a week and I have NO IDEA where it all went. For the life of me, I can not tell you what I bought, when I bought it, or where I bought it. And this burns me up!

In order to control my finances, I need visibility. I need to know how much money I have and where it’s going. With cash, there’s no guaranteed way to do that because when it’s gone, it’s gone. Like magic, just disappears without a trace. There’s nothing to prove it even existed.

$280. Less than one week later. And the only thing I know - it’s gone.

*sigh* Reason #982788 to love my credit cards.

~*~*~*~*~*~
Work to achieve, not to acquire.
And as always, BE FABULOUS!