Quarterly! Yes, SONshine Savings will be updated quarterly on this website.
With the adoption of my son last year, which increased our family to five, I believe the Lord would have me make SONshine Savings quarterly for 2008. As you already know, I write about ideas for saving money and time for the purpose of encouraging good stewardship. Thus, I think it’s important to “practice what I preach,” and devote more time in 2008 to my family. I hope my decision for this change encourages you to do the same. Evaluate your use of time against your priorities to determine changes that can be made to give you more time with those you love.
Recently, I heard Kathy Holley of Immanuel Bible Church speak at e-Moms about Organizing Life and Priorities. I liked a question she asked when evaluating whether to accept a new responsibility/ministry/task. Ask “How will I view this choice 5 years from now?”
The lesson I’ve been challenged by these last eight years since having children is best summed up in the adage “Sometimes you have to say ‘no’ to good things in order to say ‘yes’ to the best!”
RETIREMENT NOTES
According to a recent article on Yahoo from U.S.News & World Report by Katy Marquardt, a third of adults have no retirement financial plan. Presumably, this article references one-third of my fellow Americans. Hopefully, you have at least developed a plan mentally. However, if you have not committed this plan to writing, I encourage you to take a few hours this Spring to do just that.
I am not a fan of relying solely on financial calculators because I think many websites have you thinking you are in deep trouble if you do not already have a million dollars saved by forty for retirement. However, the value I see in financial calculators is they are just one tool to help you gauge your possible needs. Once this is known, you can then develop a better plan for savings.
None of us know how long we will live once retired. Looking at your family medical history, you can probably estimate. The one critical point that financial websites almost always fail to recognize is that God owns all our money and resources. He numbers our days. He can provide for us whether we live just one day into retirement or 100 years into retirement! Therefore, praying prior to making plans is critical for maintaining a solid perspective.
One point that I believe Ms. Marquardt does highlight well is the need to plan for unexpected expenses. She also makes a great point about making retirement plans that do not under-estimate spending. Many retirees today have excellent health due to the medical advances of the last century. Retirees often travel and pursue many hobbies, such as golf, which are not necessarily “frugal” in nature. Thus, as you make plans, ensure you factor into your spending the interests you have, such as international travel.
While I have avidly saved for retirement using employer plans such as a 401(k) plus my own personal IRA accounts, I also have watched first-hand my mother’s retirement. My mom’s retirement was limited by a number of factors, including her choice to stay outside the workforce for years during child-rearing. Today, she has numerous health issues and expenses I would not have anticipated. Yet, I’ve watch the Lord faithfully providing for my mom.
This is not to say you should not plan and save! Just the opposite! You absolutely should save and have a written plan. As you create your plan, remember that no one knows the future. You cannot stress about your past financial mistakes. You can make wise choices going forward. Most importantly, you can place your faith in the one true God who owns it all and Who will provide for all of your needs.
If you are looking for financial calculators to assist your plan, I recommend you consider the tool at the AARP website or at your local investment institution, such as Vanguard, Fidelity, T. Rowe Price, etc. None of these will give you a perfect answer and you’d be wise to look at at least a few of these calculators to get a range of information.
Another piece of advice is to utilize your library to read books about financial planning. Many books have chapters about retirement and you can glean good insight from this endeavor. Numerous books have been written upon the topic of retirement.
My “two cents” on this is to factor in not only your financial concerns, but also how you plan to invest your time. I believe strongly in the power of a dream. If you have always dreamed of ministering overseas, retirement is the time to follow that dream if you have not followed it prior to retirement. Considering what you want to do with your time is every bit as critical as planning financially in my opinion. Getting on my soapbox for a moment, let me state there is no time like the present to follow your dream! None of us is guaranteed we will have years past our working age to pursue a dream. Start your dreams now! I have watched people work hard for years, retire, and face unforeseen health problems that left them sitting in a chair or even deceased. Use your talents now!
Finally, take time to document your retirement plan once you’ve done your research. Even if you don’t have every detail ironed out, document what you have researched and planned. Look for new opportunities to save, such as with your tax refund. Enjoy the freedom of knowing you have a plan!
Spring is a good time for…
1-We all know that it’s a good time to clean, but it’s also a great time to gather donations for charity. As you clean out your closet or kitchen drawers, place items you’re not using or no longer want in a box. Then, take it to a charitable organization so others can be blessed. Don’t forget to keep a record of your donation and obtain a receipt so you can claim the donation on your 2008 taxes next year.
2-Calling a friend and giving yourself a few hours of “me” time. Reward your cleaning time with an afternoon with a friend. Life is too short to spend it only doing chores! I am astounded at the lack of time people spend together. Instead emails and cell calls replace “face time.” Break that habit this Spring and enjoy time with a friend. You will be blessed, and so will your friend.
3-Filing. Yes, filing. File as you go. As you already have three months of bills and important papers, set up your 2008 filing system if you’ve not already done so. Put on your favorite music and file for 30 minutes. Then, do this monthly as you get papers. This will allow you to be more organized for next year’s tax preparation. Shred anything you don’t need which has personal information on it. Protect your identity.
SAVING TIME
Here are a few ideas from a library book I enjoyed this past month. The book is published by Fern Marshall Bradley and the Editors of Yankee Magazine and is entitled Shameless Shortcuts: 1027 Tips and Techniques That Help You Save Time, Save Money, and Save Work Every Day!
Let me add there are many similar books in your local library. Taking time once annually to read or browse such a book might be the source of a few good ideas to try in the coming year!
1-This is especially good for mothers of small children and working moms. Keep a mini make-up kit in your purse for touch-ups and for completing your morning routine when you are running late.
2-When cleaning house, vacuum first. This way, as your vacuum, you do not blow more dust around your room. Prior to reading this tip, I had been vacuumming last in my routine. No more!
3-Place a microwave dish half filled with water in your microwave. Heat for at least a couple of minutes to create steam inside. Then, easily sponge off what was “baked on.” The steam helps loosen sticky food items and makes cleaning easier and faster.
4-Exercise during driving time. This is a good tip for those of us with traffic during our commutes. Now you don’t have to feel like you’re wasting time sitting in traffic! Pull in you abs, hold them, and then release. Next press your lower back against the seat, hold and then release. Last, grab the steering wheel tightly with your left hand, release and then do the same with your right.
5-Multi-task your car care by scheduling oil changes with other maintenance, such as rotating tires or tune-ups. Use your waiting time to do tasks like reading, paying bills, etc.
6-Keep your travel kit and car equipped so you can take an excursion with minimal packing effort. Make sure you keep battery-operated devices with fresh batteries and/or bring extras. Keep a toiletry bag filled with items like shampoo, razor, etc. so you can dash out the door spontaneously. In your vehicle, keep items like bottled water, trash bags, bungy cords or rope, safety pins, band-aids, etc. Then, when you travel, you’re more likely to have “emergency supplies.”
EXCURSIONS
If you live near a major city, pick up a version of your local Parent magazine for June 2008. For example, Washington Parent, has an incredible section for people new to the area. This magazine features great monthly excursions; however, the June edition has a section that is worth keeping in a notebook for reference when you are looking for a family outing idea and need inspiration.
1-Thanks to my colleague, Chuck, for cluing me in on The Washington Post’s weekend feature, which is in the Friday edition. There is a weekly “run down” of local theater productions and family-friendly events. This is a great resource if you are in the Metro DC area.
2-Referencing #1 above, check out your local newspaper for a similar feature. Many local newspapers identify special events a few weeks prior so you can purchase tickets or make plans.
3-Air Shows: About three years ago we went to Andrews AFB for their air show.
4-If you’re in Washington, DC in late June/early July, plan to enjoy the free Folk Festival on the National Mall, sponsored by the Smithsonian. Take the Metro to avoid parking hassles. If you go early in the morning, you can avoid some heat. We actually arrive mid-afternoon and stay through dinner. We purchase some of the ethnic food and use it as an educational experience for our children. Take your own water bottles to save a few dollars. Great fun!
5-Lawn & Nursery Centers: Enjoy browsing and enjoying nature at a local nursery. Lots of plants are flowering in Spring and early Summer. You will enjoy the beauty and so will your older kids (not babies, but not teens). This can be a chance to teach them about plants and how to care for them. Maybe purchase a flower and let your child plant and care for it. Or plant seeds and watch them grow! Some centers have ponds with fish, which children love to stand and watch. If you purchase nothing, your cost is only the gas to drive there.
6-Sporting events: Even if you don’t have a child playing Little League Baseball, take your family to a game. Choose a team and cheer for them. Take your own snacks and even consider a picnic. This is great for families with younger children and far more affordable than Major League Baseball. My family attends many high school sports, such as soccer, lacrosse, and baseball. Not all events are free, so beware. But league sports on Saturdays are typically local children playing soccer, for example, and anyone can attend to watch.
7-With the high cost of gas and economic worries, consider vacationing this year near your home. Or plan a trip where you can stay with family and see local sites. Vacations do not have to be expensive to be fun. If you attend a few historical sites or museums and then enjoy time at a pool or picnicking, you can have a great time without letting go of a lot of dollars. Don’t forget to ask venues if they offer discounts, such as AAA or coupons. I’ve found many discounts but I’ve had to ask for them to acquire them.
8-For venues where you purchase a season’s pass, keep a record of how often you use it to ensure you get your money’s worth. Also, make sure you take advantage of special events at the venue. With my Mt. Vernon pass, I have enjoyed multiple trips with family and friends. I’ve also gone to special exhibits this year. I can go for just an hour and have fun knowing I’m getting value for my initial pass purchase. I might add our vacation is going to consist of purchasing a season pass to an amusement park. We’ll use it 3-4 times this year and have loads of fun. Thankfully, our amusement park choice is near a relative and we save by not spending money at a hotel.
9-Prayer Walks: Get your exercise while you pray. Take your child along and you can enjoy the time praying together. This teaches your child to pray and to utilize his/her time. Pray for neighbors as you walk and ask your child about his prayer concerns. This time is rewarding on many dimensions.
MOUNT VERNON—Just a note about going to Mount Vernon on President’s Day. Yes! It’s free entrance into the venue, but prepare yourself for crowds. I went this year and parked several miles away at Mt. Vernon High school and rode a shuttle bus to the historic home. The shuttle was convenient, but the lack of parking easily added 30 minutes to the start and end of my visit. I would suggest if you do decide to explore Mount Vernon on President’s Day, make sure you go very early and do not take children under the age of five, maybe under the age of eight.
FRUGAL IDEAS
1-Consider the BP Visa card if you are in the market for a credit card change. This card offers rebates on purchases, and the first 60 days of using the card, the rebates are significant— like 10% on gas purchases at BP Oil Stations. Use your refunds/rebates to save for something special, like your child’s 529 college savings plan or even a vacation.
2-When your economic stimulus check arrives, don’t spend it all! Make sure you give a tithe to the Lord. You can NEVER out-give God. Then, consider saving a portion of it. If you have debt, use the money towards debt extinguishment. Lastly, if you have no debt, then, pray about how to best spend it. While the check is not large for most of us, it can cover a local vacation excursion after tithing and saving.
3-Tax Refunds: Most people spend their refunds. Why? Why not use that refund to give to a special charity or your church? Why not save it for children’s college or for your next vehicle? Why not save it for your emergency fund so the next time you have a home improvement need, you’re prepared to meet it? Why do you think you need to spend it? Just a few thoughts to ponder.
4-Stock up on non-perishables. Last week, Safeway sold a brand of cereal at $1 per box. There were about 10 varieties to choose from. We stocked up and have enough to supply us several months. Take advantage of sales where you can purchase items that won’t spoil. This saves you from also running to the grocery store as often when you have a small supply of food at home. We also stocked up on Dasani water, which was featured at a price lower than I’ve ever seen. Spring is a great time to find bargains on bottled water, juices, etc.
5-Water filters: We purchase bottled water, but we also use a Brita filter pitcher in our home. The pitcher is an initial investment of $20-$30, plus you have to purchase re-fill filters. But over time, this reduces your purchases of bottled water. However, we keep bottled water in our vehicles for the many excursions, trips, and sporting events. This saves us from purchasing from expensive vendors or vending machines.
6-Shop with a friend for the purpose of encouraging each other not to over-spend. Also, if you purchase an item in bulk, such as fruit at a warehouse retail store, you can split the volume of the food and minimize or eliminate possible waste. Your friend provides you accountability, can help “talk you out of” impulse purchases, and can help you take advantage of true deals while eliminating the downside of lost perishable items.
7-Stay away from malls, catalogues and websites where you tend to spend money. If you don’t shop, you can’t spend.
8-Use your driving time to listen to books on CD. You increase your learning while making your commute pleasurable. Check out CDs at your local library and you have a great “deal” financially and with your time usage. I also have found wonderful DVDs and CDs for my children at the library.
9-Tired of picking up toys from your children’s play areas? I am! I now bag those items and donate them. This teaches my children that if they do not care for their possessions, they will lose them. I’ve donated to the children’s school’s prize box, and I’ve also used these toys in care packages I have sent overseas to children we sponsor through relief organizations, such as World Vision.
10-With my daughter’s birthday, I sent Little Debbie cakes to school for her celebration. I bought them at $1.00/box at The Dollar Tree. I saved the time of baking and decorating. Plus the purchase of the packaged bake goods was at least $1-2 cheaper than if I baked and decorated myself. Comparatively, I priced cupcakes at a local grocery store. They wanted $20 for the same volume that I paid $3. Kids enjoy the recognition and celebration. I have yet to meet one that had a meltdown over their cupcakes not being homemade or not having an elaborate decoration upon it.
12-Dining Out: Remember last year I wrote about many restaurants offering “kids eat free” nights? If you are looking for a dining deal, make sure you ask your favorite restaurant if they offer free dining for kids and if they have a birthday club. My children are in a couple of birthday clubs and this lets us eat out without paying for kids meals. Register mom and dad in the birthday club, too!
13-Gasoline prices & Family Nights: With gas prices already higher than they’ve been in over a year, and summer is not even here, consider how much you can do without driving. My family is starting a new “program” where we are doing more together at home or at parks we can walk to. We’ve always utilized community parks and schools for playgrounds, picnics, and birthday parties. Now, we’re going to have more game nights and reading nights at home. We are looking at ways to reduce driving as the weather warms. Maybe we’ll only save a gallon or two a month with this endeavor; however over time, this could amount to a $50 savings— and that is a dinner out!
If you have a frugal idea, I’d love to hear from you. Please use the link at this website to share your thoughts.
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Thank you to the MOPS at Mt. Ararat Church in Stafford, VA for allowing me to share with them on February 1. I also had the opportunity to speak at a Children’s Hope International info meeting in Chantilly in March. This meeting was for the purpose of helping inform families considering adoption.
If your community or church group is seeking a speaker, please email me at michelebuschman@yahoo.com. I would love to share some encouragement and the love of Christ with your group!
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Joy! Michele