If you have never read Nickel and Dimed by Barbara Ehrenreich, I highly recommend it. At this point, the book is probably a bit dated since the events written about took place around 2000. But in it Ms. Ehrenreich takes a series of low paying jobs and tries to make ends meet. If my recollection is correct, she actually starts her journey with enough money to find an apartment and she has a car (which she notes puts her well ahead of many of the folks in her travels).
Today, I read an nbc.com article that highlighted many of these issues. Yolanda Williams, the woman featured in this article, is trying to support an adult daughter, her disabled husband on less than $300 every two weeks. She spends 28 hours a week commuting by bus to work and to school. She also struggles to afford medication and treatment for her and her husband's diabetes treatment (which likely means more expensive treatment down the road).
It is distressing to hear about this woman, who is working so very hard, but doesn't seem to be making much progress.
Showing posts with label Giving. Show all posts
Showing posts with label Giving. Show all posts
Friday, August 2, 2013
Tuesday, May 21, 2013
Drinking and Shopping Don't Mix
I enjoyed this fun Atlantic Wire post on shopping under the influence.
I have been to enough Palm Beach charity events over the years to understand the silent auction (and live auction) bidding dollars go way up the more people drink.
As such, I would add a section to the article that one should generally get a pass for shopping/bidding at charity auctions, since its for charity.
Otherwise, I thought the suggestions in this guide were great. Definitely leave the credit cards at home if you are shopping after drinking and have a friend there to talk you out of bad ideas.
I often find myself in trouble when it comes to art, because (1) I love original art, (2) I'll spend good money for art, and (3) I'm often admiring art while holding a glass of wine. So I stick to my rules and anything over a $100 requires a cooling off period. I'll take a photo of the art with my iPhone, I'll take a business card, but I generally don't buy art on a first viewing.
I have been to enough Palm Beach charity events over the years to understand the silent auction (and live auction) bidding dollars go way up the more people drink.
As such, I would add a section to the article that one should generally get a pass for shopping/bidding at charity auctions, since its for charity.
Otherwise, I thought the suggestions in this guide were great. Definitely leave the credit cards at home if you are shopping after drinking and have a friend there to talk you out of bad ideas.
I often find myself in trouble when it comes to art, because (1) I love original art, (2) I'll spend good money for art, and (3) I'm often admiring art while holding a glass of wine. So I stick to my rules and anything over a $100 requires a cooling off period. I'll take a photo of the art with my iPhone, I'll take a business card, but I generally don't buy art on a first viewing.
Wednesday, April 10, 2013
You know its spring in Florida when . . .
You know its spring in Florida when you are at the Super Wal-Mart at 6:00 a.m. buying rat traps.
Now I'm not in charge of rat wrangling, rather Mr. Sam is takes care of this landlording task (thank goodness). So, he was at Super Wal-Mart early this morning buying traps.
Here in Florida we have problems with roof rats due in large part to our climate and the abundance of fruit trees. And, at one of our rental properties, we have a beautiful, big mango tree that produces tons of fruit. This tree produces so much fruit that its more than our tenants or ourselves could ever eat.
I've heard about some food pantries that run back yard fruit drives so I'm looking for an agency that is local to us where we can donate these mangos. In the meant time Mr. Sam is over at the property setting up traps.
Now I'm not in charge of rat wrangling, rather Mr. Sam is takes care of this landlording task (thank goodness). So, he was at Super Wal-Mart early this morning buying traps.
Here in Florida we have problems with roof rats due in large part to our climate and the abundance of fruit trees. And, at one of our rental properties, we have a beautiful, big mango tree that produces tons of fruit. This tree produces so much fruit that its more than our tenants or ourselves could ever eat.
I've heard about some food pantries that run back yard fruit drives so I'm looking for an agency that is local to us where we can donate these mangos. In the meant time Mr. Sam is over at the property setting up traps.
Monday, January 7, 2013
January 2013 Spending Fast
We spent a ton of money in December and we also saved a ton of money in December in order to stretch to try and meet some of our 2012 savings goals.
December included two trips for me, one was solo and less expensive, but the other was with my husband and another couple and was pricey. The solo trip was unplanned so that means unaccounted travel expenses in December.
And of course, the holidays always fall in December. Despite the fact that we save and plan ahead for the holidays there are still always extra costs that pop up. A new outfit here, an extra dinner out, drinks with friends, etc.
Finally, we do much of our charitable giving at the end of the year. This year, we stretched and gave more than we normally do. I also paid off a charitable pledge to my university two years early, so that was an extra $420 in charitable giving dollars.
Put that all together and I feel like we've been keeping the economy going just with our family's spending. Add in the fact that we doubled down on our December savings to try and meet our 2012 goals and I feel like we have no money because we either saved it or spent it. So, it is time for another January spending fast.
If you've never heard of a spending fast, pick a time period (if 30 days is too long, do a 7 day, a 5 day [work week fast] or a weekend fast) and then simply don't spend money on anything unnecessary. So that means for January, you have got to avoid all the after holiday sales. No eating out, no ordering in, but of course you can still hit the grocery store.
What is your financial plan for January?
December included two trips for me, one was solo and less expensive, but the other was with my husband and another couple and was pricey. The solo trip was unplanned so that means unaccounted travel expenses in December.
And of course, the holidays always fall in December. Despite the fact that we save and plan ahead for the holidays there are still always extra costs that pop up. A new outfit here, an extra dinner out, drinks with friends, etc.
Finally, we do much of our charitable giving at the end of the year. This year, we stretched and gave more than we normally do. I also paid off a charitable pledge to my university two years early, so that was an extra $420 in charitable giving dollars.
Put that all together and I feel like we've been keeping the economy going just with our family's spending. Add in the fact that we doubled down on our December savings to try and meet our 2012 goals and I feel like we have no money because we either saved it or spent it. So, it is time for another January spending fast.
If you've never heard of a spending fast, pick a time period (if 30 days is too long, do a 7 day, a 5 day [work week fast] or a weekend fast) and then simply don't spend money on anything unnecessary. So that means for January, you have got to avoid all the after holiday sales. No eating out, no ordering in, but of course you can still hit the grocery store.
What is your financial plan for January?
Monday, November 26, 2012
Executing on the Holiday Plan
Earlier, I posted about our holiday plan and budget and since its Cyber Monday it is time for me to start executing on our plan.
As I previously posted, for the past few years we've been sending out holiday wreathes to our adult family members (we don't exchange holiday gifts with the adults in our family). The past few years the holiday wreath giving has also supported one of my favorite charities, but they have opted not to participate this year. So, I was thinking of sending wine from a winery we visited this year. But, that option ended up being too expensive and too complicated although I am going to order a 6 pack of wine to give as gifts locally (work and hostess gifts).
For the wreathes, I decided to go with L.L. Bean. First, L.L. Bean makes the wreathes right in Maine, so the company supports American workers. Second, the wreathes ended up costing about the same amount, with free shipping today and 10% off today, as the charity wreathes. Also, I will receive $40 in gift cards, $10 per $50 spent, which I can use for other holiday shopping.
As I previously posted, for the past few years we've been sending out holiday wreathes to our adult family members (we don't exchange holiday gifts with the adults in our family). The past few years the holiday wreath giving has also supported one of my favorite charities, but they have opted not to participate this year. So, I was thinking of sending wine from a winery we visited this year. But, that option ended up being too expensive and too complicated although I am going to order a 6 pack of wine to give as gifts locally (work and hostess gifts).
For the wreathes, I decided to go with L.L. Bean. First, L.L. Bean makes the wreathes right in Maine, so the company supports American workers. Second, the wreathes ended up costing about the same amount, with free shipping today and 10% off today, as the charity wreathes. Also, I will receive $40 in gift cards, $10 per $50 spent, which I can use for other holiday shopping.
Tuesday, November 13, 2012
Holiday Budget Planning
Since Thanksgiving is early this year (next week!), the time to get your holiday plan in order is quickly running out.
For us, our holiday plan will generally be the same as last year.
We have our holiday savings account, which we fund each pay period and keep at ING so we earn a little interest. The great part of setting up a holiday budget and plan, each year it is quick and easy work to adjust and replicate. For a lot of people, the word budget has a negative connotation, for us budget really means plan.
First, I have already ordered our holiday cards, this is an expensive part of our holiday plan since we send out about 80 cards. All together, with the printing of the cards and the postage this is going to run about $200. Another trick for holiday cards is to get your holiday addresses into an Excel spreadsheet so its easy to adjust the list from year to year.
Second, while we have a general agreement not to exchange gifts with the adults in our family (except for one or two holdouts) the past few years I have sent holiday wreathes which also supports a charity. Sending the wreathes runs about $200. I'm thinking of mixing this up this year as we visited a winery on our travels this past year and I was thinking of sending wine. This is something I need to investigate and figure out my plan.
Third, the kiddos in the family. I'm upping the budget for the kids this year. My nephew is in college now I'm increasing his holiday gift from $50 to $100 in cash. Of course, I need to do the same for his sister who is in high school (total $200). $50 in cash to the little ones and a little something gift (total $150). $50 each to college fund (total $200). So, this category is going from $250 last year to $550. That is a big increase in our holiday budget so we'll need to make an adjustment to our automatic savings plan for the holiday account for next year.
Fourth, I am budgeting $100 for work related gifts. This is an increase from last year,but I also missed my assistant's birthday so need to make that up.
Fifth, $100 for misc. expenses, baking supplies, hostess gifts, etc.
Sixth, $50 for stocking stuffers for my husband and dog.
This year we are again taking a trip over the New Year's weekend (this is budgeted in our travel fund) as such we won't be doing gifts to each other. We haven't done holiday gifts for each other in years.
Finally, $100 to sponsor a need child's Christmas.
Overall, our holiday budget will increase this year by @ $300. Since we already have saved $1000 (plus we have a bit of interest) the increase in our budget is manageable. I was surprised to hear that the amount we are planning to spend greatly exceeds the norm.
How about you, do you have a spending plan for the holidays, how much are you spending, is it going up or down or staying the same?
For us, our holiday plan will generally be the same as last year.
We have our holiday savings account, which we fund each pay period and keep at ING so we earn a little interest. The great part of setting up a holiday budget and plan, each year it is quick and easy work to adjust and replicate. For a lot of people, the word budget has a negative connotation, for us budget really means plan.
First, I have already ordered our holiday cards, this is an expensive part of our holiday plan since we send out about 80 cards. All together, with the printing of the cards and the postage this is going to run about $200. Another trick for holiday cards is to get your holiday addresses into an Excel spreadsheet so its easy to adjust the list from year to year.
Second, while we have a general agreement not to exchange gifts with the adults in our family (except for one or two holdouts) the past few years I have sent holiday wreathes which also supports a charity. Sending the wreathes runs about $200. I'm thinking of mixing this up this year as we visited a winery on our travels this past year and I was thinking of sending wine. This is something I need to investigate and figure out my plan.
Third, the kiddos in the family. I'm upping the budget for the kids this year. My nephew is in college now I'm increasing his holiday gift from $50 to $100 in cash. Of course, I need to do the same for his sister who is in high school (total $200). $50 in cash to the little ones and a little something gift (total $150). $50 each to college fund (total $200). So, this category is going from $250 last year to $550. That is a big increase in our holiday budget so we'll need to make an adjustment to our automatic savings plan for the holiday account for next year.
Fourth, I am budgeting $100 for work related gifts. This is an increase from last year,but I also missed my assistant's birthday so need to make that up.
Fifth, $100 for misc. expenses, baking supplies, hostess gifts, etc.
Sixth, $50 for stocking stuffers for my husband and dog.
This year we are again taking a trip over the New Year's weekend (this is budgeted in our travel fund) as such we won't be doing gifts to each other. We haven't done holiday gifts for each other in years.
Finally, $100 to sponsor a need child's Christmas.
Overall, our holiday budget will increase this year by @ $300. Since we already have saved $1000 (plus we have a bit of interest) the increase in our budget is manageable. I was surprised to hear that the amount we are planning to spend greatly exceeds the norm.
How about you, do you have a spending plan for the holidays, how much are you spending, is it going up or down or staying the same?
Monday, October 8, 2012
Charitable Giving
A while back, I posted on charitable giving - who gives the most and to what organizations along with information regarding our own giving. Today we had our appointment with our accountant to prepare our 2011 taxes, we filed for an extension so we are rapidly running out of time to get our taxes done and in by October 15th. **As an aside and to help me stay honest, I'm declaring here that I'm determined not to file for an extension on our 2012 taxes.
In my earlier post I under-estimated how much we are giving, in 2011 we gave $1,800+. More interesting to me, is that from 2010 to 2011 we doubled our charitable giving since in 2010 we gave $900+. I am only counting cash contributions, not our in-kind contributions (i.e. clothes to Goodwill) or our contributions of time (which are also significant).
While 2012 is really almost over, I hope that we exceeded (or will exceed) our 2011 giving. Since I gathered up our 2012 tax documents as I was gathering and organizing our 2011 documents, I plan to add up our year to date giving for 2012 and see where we are at. As I previously posted, I would like to increase our charitable giving each year since my individual charitable giving decreased after we got married and we got super serious about killing debt and increasing our savings.
In my earlier post I under-estimated how much we are giving, in 2011 we gave $1,800+. More interesting to me, is that from 2010 to 2011 we doubled our charitable giving since in 2010 we gave $900+. I am only counting cash contributions, not our in-kind contributions (i.e. clothes to Goodwill) or our contributions of time (which are also significant).
While 2012 is really almost over, I hope that we exceeded (or will exceed) our 2011 giving. Since I gathered up our 2012 tax documents as I was gathering and organizing our 2011 documents, I plan to add up our year to date giving for 2012 and see where we are at. As I previously posted, I would like to increase our charitable giving each year since my individual charitable giving decreased after we got married and we got super serious about killing debt and increasing our savings.
Tuesday, September 18, 2012
Rental Update
Rental #2 has turned over. Our last tenant broker her lease and has moved out of town. We already had her last month rent (September) and her lease break fee. She never really moved all the way in and wasn't there much so the rental turn over consisted of changing the locks and cleaning.
This is our best rental property and as such we have already rented the place for October and collected the first month rent. I wanted to increase the rent by $30 a month, and we did initially advertise it at that level but then we reduced it as Mr. Sam would rather not lose a month of rent than collect a few hundred over the course of a year. Before our new tenant moves in we are having the property tented for termites.
Rental #3 is also vacant. The tenants that were in rental # 3 were there for quite some time. I have no idea as to the status of the property although I'm sure Mr. Sam has checked on it. I assume there will be some turn over costs and we are unlikely to have the property ready for advertising for October. Which means we likely will be losing a month's rent.
This is our worst rental property for a variety of reasons but because it is a three bedroom we do get quite a few family candidates who are interested in it because it is cheap.
Monday, August 20, 2012
How Charitable?
This morning I caught an
NPR segment on the geography of giving.
The Chronicle of Philanthropy has some great data that you can drill down into. Some of the data is restricted to those that subscribe, but much of it is available to the public.
Florida ranks # 15 in giving for percentage of discretionary income. And, I think that is an interesting way to measure giving. We rank fourth for total giving, which makes sense when you think of Florida population. Overall, Florida's population is older and we have pockets of great wealth.
Thinking about our own level of giving, I think we could do better. I know, because I've kept track of my personal finances for years and I used to give more when I was less focused on my (now our) personal finance goals. Now that we set regular and focused goals, if we have "extra" cash available, I am much more likely to put those funds towards our personal goals rather than charitable giving.
This is how we give: First, I make a monthly regular contribution to the children's charity that I am involved in. This giving is set up to go automatically to our credit card and then I pay it off each month. We give $40 a month, which is $480 a year. I have to say, that automatic giving, like automatic savings is really a great way for me to give because I don't have to think about writing a check. Once the giving is set up, I don't think about it all.
We also give money at Thanksgiving for our turkey give away (same organization), we normally give $100 in November. We also give $100 to the annual fundraiser (same organization) which is also in November (I am on the board, so we strive for 100% board participation for our annual fundraiser, because that level of participation helps with grant writing). We also normally sponsor a family at Christmas time, which means buying basic supplies and a few gifts for the family (same organization) which runs around $200. So, to one organization we normally give close to $900 a year.
Second, we have two health/disease focused charities that we give to. These are organizations that focus on support, research and finding a cure to two diseases that impact my family. We normally give at least $100 a year to both, for a total of $200.
Third, I'll give $20 here and there to support friends that are fundraising. Plus, we always buy Girl Scout cookies and support the kids in our neighborhood that are doing fundraising. Finally, at Christmas time we have, for the past few years, bought everyone in our family a Christmas wreath which is shipped to them as part of the local marching band fundraiser (that normally runs $100+). So with miscellaneous giving and the Christmas wreaths, that adds another $200 to our yearly total.
So, our grand total runs us about $1300 in giving. I've decided that I am going to increase my monthly giving from $40 to $50. How about you, how much do you give and how do you give?
Very interesting to learn that lower income folks actually give away a bigger percentage of their discretionary income.
- Households with incomes of $50,000-$75,000 donate on average 7.6 percent of their discretionary income.
- That's compared with about 4 percent for those with incomes of $200,000 or more.
Also, "red" states give more than "blue states. Religion seems to play a large factor in this division. Red states are more religious and citizens of those states give more to their church. Utah ranks number one in giving, and that is due to the high Mormon population and the tithing to their church. Personally, I'm not sure giving to church, in general, should count as charitable giving. Certainly some of those funds goes to the church's charitable mission, but a good chunk of it goes to support the church on an administrative level (the upkeep of the church, heating and A/C, the pay for the preacher, etc.)
The Chronicle of Philanthropy has some great data that you can drill down into. Some of the data is restricted to those that subscribe, but much of it is available to the public.
Florida ranks # 15 in giving for percentage of discretionary income. And, I think that is an interesting way to measure giving. We rank fourth for total giving, which makes sense when you think of Florida population. Overall, Florida's population is older and we have pockets of great wealth.
Thinking about our own level of giving, I think we could do better. I know, because I've kept track of my personal finances for years and I used to give more when I was less focused on my (now our) personal finance goals. Now that we set regular and focused goals, if we have "extra" cash available, I am much more likely to put those funds towards our personal goals rather than charitable giving.
This is how we give: First, I make a monthly regular contribution to the children's charity that I am involved in. This giving is set up to go automatically to our credit card and then I pay it off each month. We give $40 a month, which is $480 a year. I have to say, that automatic giving, like automatic savings is really a great way for me to give because I don't have to think about writing a check. Once the giving is set up, I don't think about it all.
We also give money at Thanksgiving for our turkey give away (same organization), we normally give $100 in November. We also give $100 to the annual fundraiser (same organization) which is also in November (I am on the board, so we strive for 100% board participation for our annual fundraiser, because that level of participation helps with grant writing). We also normally sponsor a family at Christmas time, which means buying basic supplies and a few gifts for the family (same organization) which runs around $200. So, to one organization we normally give close to $900 a year.
Second, we have two health/disease focused charities that we give to. These are organizations that focus on support, research and finding a cure to two diseases that impact my family. We normally give at least $100 a year to both, for a total of $200.
Third, I'll give $20 here and there to support friends that are fundraising. Plus, we always buy Girl Scout cookies and support the kids in our neighborhood that are doing fundraising. Finally, at Christmas time we have, for the past few years, bought everyone in our family a Christmas wreath which is shipped to them as part of the local marching band fundraiser (that normally runs $100+). So with miscellaneous giving and the Christmas wreaths, that adds another $200 to our yearly total.
So, our grand total runs us about $1300 in giving. I've decided that I am going to increase my monthly giving from $40 to $50. How about you, how much do you give and how do you give?
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