Rocky Mtn Saver
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Post by Rocky Mtn Saver on Mar 22, 2012 8:10:18 GMT -5
I opened an IRA and deposited $1000 into it. I didn’t want to do it because I hate saving money in a place I can’t get to it without penalties if I need it. But we have over $15,000 in savings now. Any emergency that depletes all of that and requires me to pull the IRA money will mean much bigger problems than paying a stupid penalty. Was it a tradtional IRA? I opened a Roth IRA instead because you can access your contributions (not earnings) at any time for any reason without a penalty or added taxes. I liked that idea as a true, desperate emergency fund.
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financialpeace
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Post by financialpeace on Mar 22, 2012 9:07:55 GMT -5
Rocky- It was a traditional. I was going to open up Roths for me and my husband this year, but I only have a temp job so don't have access to a 401k or any other tax deductible retirement savings through work. I decided we needed the tax deduction more than we needed to be able to access the money penalty free. We are in a high tax bracket and ended up paying a lot last year. I'm trying to get the tax bill down a little this year. The chances of us needing the money are very slim because we don't own a house or have kids and it seems like most expensive emergencies involve one of those two things.
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Rocky Mtn Saver
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Post by Rocky Mtn Saver on Mar 22, 2012 9:14:53 GMT -5
Rocky- It was a traditional. I was going to open up Roths for me and my husband this year, but I only have a temp job so don't have access to a 401k or any other tax deductible retirement savings through work. I decided we needed the tax deduction more than we needed to be able to access the money penalty free. We are in a high tax bracket and ended up paying a lot last year. I'm trying to get the tax bill down a little this year. The chances of us needing the money are very slim because we don't own a house or have kids and it seems like most expensive emergencies involve one of those two things. Yeah, my EF isn't as large as others either, because I don't have kids or my own home. I agree. My tax bracket isn't very high, so I'm okay with not getting the tax deduction. I also contribute to a 457 plan through work, though, so I get a tax break from that. Good job on opening the retirement account, though!! It's probably best if we keep the money a little unavailable to ourselves anyway!
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MittenKitten
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Post by MittenKitten on Mar 22, 2012 11:39:04 GMT -5
FP: Great job on the retirement account. Also was good that you took in consideration what was best for you. Oh and I am with you, I squirrel money away because I don't want to live like my grandmother's did or to some extent my mother.
My EF is fully funded and I really need to move some out but even though I do trade actively in the stock market I am a little unsure of doing so right now since most stocks have moved up so much lately. SO glad I bought Apple 3 years ago!
Rainy today but we need the moisture. I can tell I am coming out of my winter funk and that is so nice. Next winter I may have to do something about it. This year's was especially bad, which is interesting because the weather wasn't that bad..... Just so irritating to have two different personalities, one in winter and one the other 3 months of the year...
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redwagon
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Post by redwagon on Mar 22, 2012 14:05:00 GMT -5
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startsmart
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Post by startsmart on Mar 22, 2012 16:42:45 GMT -5
Ug, kinda annoyed that my car is costing me so much today. I got a belt replaced ($90) and now I'm at the dealership. They are charging me $150 to just diagnose what's wrong with my airbags. Of course the diagnosing doesn't take into account any actual work and it can take "up to 5 hours" for them to finish diagnostics. Booo.
So it's a spendy day already. I had to get gas in the car, lunch and treats for the guys at the shop (the first one).
But at least I can work since the dealership has wifi and my calls are done for the day. I'm working on my program and listening to music.
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mizbear
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Stand back. I have a budget, and I know how to use it.
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Post by mizbear on Mar 22, 2012 17:19:06 GMT -5
startsmart- If your car is under warranty and the airbags are a warranty or recall issue (use the wi-fi force to research it) see if you can get them to eat that diagnostic charge.
Keep crossing your paws- we actually meet with the lender Monday- which means we passed the preliminary stuff!
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Honeylioness
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Post by Honeylioness on Mar 22, 2012 18:21:53 GMT -5
mizbear - I don't often comment about your family situation since I know it causes you enough stress as it is without anyone elses comments. I am glad to see though that you will not be moving forward with trying to find housing that includes your brother. As important as I believe family is - I think at some point for some people you just need to completely dis-engage. And unfortunately I think perhaps your brother is one of them.
redwagon - Congratulations on the baby. I hope you are able to get it confirmed with your doctor soon.
RockyMtnSaver - sounds like you are keeping aware of your spending which helps with your NSDs.
mrslynch - very interesting take on the blog. I can relate to such feelings about certain things ... and people.
startsmart - Congratulations on the new clients. And I hope you have a good time visiting with Blue Eyes.
financial peace - Allowances for some people can feel really restrictive. And as I am sure you have seen from others it can be those "little" things that add up more quickly than expected.
SES - I had to laugh at your kitty story. The little buggers do find ways of keeping life interesting.
3cats - I understand the fear of "succeeding", however who says you have to tell him you have the savings at all? Not sure it is really any of his business. Sorry if that sounds harsh.
iPOD v. Books - I do still like the feel and sound of a book in your hands and the sound of the pages turning. However since I got my iPOD I have accumulated quite a few (Understatement!!) downloaded books. I like that I can read them on the small device or on my laptop. It makes it a lot easier when I travel and don't have to lug around three or four books.
AND I have not only downloaded all my CDs to my iPOD, but many of my parent's when I was there, and a friend let me copy many of hers. It's rather embarrassing that after a year or so I have over 3,200 pieces of music I can take with me where ever I go - and can even plug it into my car radio and play them that way.
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Honeylioness
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Post by Honeylioness on Mar 22, 2012 19:05:05 GMT -5
UPDATE:
19 NEO 20 NSD/CSD
QOTW: I feel as though I do occasionally sabotage myself. Not sure if it is because I am afraid of success, or feel more comfortable with chaos. I don't feel as though I have done it to myself lately but I do know there have been a couple of times when I really felt the "urge".
COTW: Well, I have starting working with a financial planner and am consolidating accounts, pension cash roll-overs etc. I also met with an attorney yesterday to discuss writing a Will, Medical Proxy and Durable Power of Attorney. she was very patient with my questions - and all three documents will run about $400. I do know that you can do these documents off the Internet, however I want to make sure things are done right and set up specifically the way I want them.
I do need to find a way to get myself motivated to be more physically active. Being at home these last few months I notice I have lost muscle tone and tire more easily. Not having kids to run after also has me feeling very out of shape - not that I was exactly a gym poster child to begin with.
It really struck home for me the last few days. We have had unseasonably warm weather here so I took the opportunity to start doing some clean up in my small garden area in front of the townhouse. I was upset with myself at how quickly I tired and got a sore back.
I also need to be better about eating regularly. At the moment I eat only one meal a day. And I know that is not a great idea.
Tomorrow, Friday, I have my first face-to-face interview with an employer. It is for a long term contract position which should run through the end of the year and then most likely ve open to convert to a full time employee position.
And this afternoon I had a major panic/anxiety attack about it. I called my mother and just unloaded all sorts of emotional "crap": fears, what-ifs, worse case scenarios, all the reasons I "knew" why they would not hire me - you name it I dumped it all into my panic attack. In my family we call this "kitchen sinking" - as in: Everything but the kitchen sink. I suppose on one hand it's a good thing I got most of it out of my system today instead of having it break over me as I pulled up to their offices.
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redwagon
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Post by redwagon on Mar 22, 2012 19:37:54 GMT -5
Honey - aren't moms great? I hope you're feeling more confident about your interview now!! Go kick butt! Sending job juju your way! And thanks for the congrats! And I highly recommend pilates. It's low impact and I love it. Just did a video, in fact!
start - aren't cars a money-suck? I need to bring mine in for it's checkup. I know the base price but who knows what they'll try to get me to "fix"
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financialpeace
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Post by financialpeace on Mar 22, 2012 21:02:55 GMT -5
Red- Anything baby related tends to stick in my mind. I also remember your story well because I think you are a lot like me when it comes to planning ahead and researching all kinds of stuff in advance when it comes to having a baby. I have a notebook full of notes That bag you posted is very cute and the material looks like it will be easier to clean than the one I saw. Honey- Good luck on the interview. I understand how it feels as I was there not too long ago. I was sure I wouldn't get this job, but I had an offer within an hour of the interview finishing. When you feel yourself starting to get anxious about it, try to just tell yourself "what will be will be." It helped me for some reason.
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mizbear
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Stand back. I have a budget, and I know how to use it.
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Post by mizbear on Mar 22, 2012 21:12:36 GMT -5
Honey- I know you will kick butt- (but I sent you some Karma just in case it might help) 3cats- I agree- your savings is your savings and as ZBear and I say- "Pooh-tinky on everybody else." I don't know what I would do without you guys. We have an appt with the lender on Monday! And Honey- I would love to have my 3200 favorite songs all in one place! I am such such such a geek!
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3catslady
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Post by 3catslady on Mar 22, 2012 22:24:33 GMT -5
honey and mizbear: I don't tell him what I have in money, in fact I tell him I am broke. But when I come home with something for me, he wants to know where I got the money for it when I just told him I didn't have any. He doesn't know that I have a $300 cash stash, and over $1000 total in savings in different banks. It is just when I buy something he always has something to say but I just let it go in one ear and out the other. He always seems to be there when I buy. It does bother me that I lie to him. update: 21 NSD, 1/31 NEO and $300 in savings.
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startsmart
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Post by startsmart on Mar 23, 2012 1:23:59 GMT -5
well despite the spendy day it was all put into perspective. grandpa took a header and ended up in the ER tonight so I just spent 3 hours sitting in the ER before making it home. I'm very tired (3 hrs of driving, 3 hours at the hospital, lots of work and dealership mess).
The airbag will need to be fixed, a cable shorted out and now I have to shell out $500 for the fix. Thankfully I can get it done when I'm back from my trip and my program has launched.
Honey - thanks really looking forward to the time with blue!
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MittenKitten
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Post by MittenKitten on Mar 23, 2012 9:53:09 GMT -5
start: BTW Great job getting new clients. Your business is doing so well, I am happy for you. Sorry to hear of your grandpa. Hope he is doing okay.
FP and red: I don't know that I was such a great planner withthe babies. Of course then again I am low maintenance person. I figured babies need a place to sleep, clothes, diapers and food. The rest is trappings. Of course we could not have lived without our babyswing. Serious lifesaver when you have a kid that HATES to sleep (see DS#1 has NEVER slept well.)
3cats: I am glad you stay strong but it is sad your son can't simply be happy for you and whatever you are able to accomplish. Next time he sees you with something tell him it is none of his business!
Honey: So glad to see you. Good luck for your interview. If they have any sense at all they will realize what a gem you are!
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MittenKitten
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Post by MittenKitten on Mar 23, 2012 9:54:10 GMT -5
Oh and start I feel for you. We need to take all 3 vehicles in and I expect we will be spending at least $1,000 on them. YUCK. That is coming out of the tax return.
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mizbear
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Stand back. I have a budget, and I know how to use it.
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Post by mizbear on Mar 23, 2012 10:06:38 GMT -5
3cats- I have to agree with MK on this. It's really none of DS's business as long as you are not harming yourself or someone else or doing something illegal (duh moment here) where you are getting your money. He knows you are frugal and he is an adult. I am having the same issue with DM and DB sometimes still.
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ses
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Post by ses on Mar 23, 2012 16:19:08 GMT -5
3cats--whenever anyone comments to me, my standard response is "yea, I had to decide what to give up for this" pointing out planning and preparing, even if they don't want to hear me say the word "planning" ever again. Besides, it is not their business to mind MY money. Your turn around is so inspiring to us, I'm sad your DS can't seem to learn from your stellar example.
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azmom
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Post by azmom on Mar 23, 2012 16:20:53 GMT -5
Sorry guys I've been without internet for like 3 days...i barely survived I'll have to check my NSD it's not pretty I know that. You will have to check out the TUTU I made for my DD. I posted it on facebook. I'm going to post a step by step on my blog next week. I can't believe I made it. I feel so domestic. RED CONGRATS!! I'M SO SO EXCITED FOR YOU.
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mizbear
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Stand back. I have a budget, and I know how to use it.
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Post by mizbear on Mar 23, 2012 16:21:58 GMT -5
3cats--whenever anyone comments to me, my standard response is "yea, I had to decide what to give up for this" pointing out planning and preparing, even if they don't want to hear me say the word "planning" ever again. Besides, it is not their business to mind MY money. Your turn around is so inspiring to us, I'm sad your DS can't seem to learn from your stellar example.
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moneysquirrel
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Post by moneysquirrel on Mar 24, 2012 20:40:59 GMT -5
Update: 15 NS Days and 7 CS Days
Hope all are doing OK. I'm feeling better. The six inches of rain we had in 48 -72 hours this week knocked most of the pollen off the trees and out of the air. Of course it also meant that I made no stops on my way home any of those days.
Today was beautiful and a spend day. Got one major item on my list. Had the cash saved for it so I didn't put it on the CC. I also met a friend for lunch which was not planned but so much fun.
red -- great news
3cats -- You have come a long way from where you started. I am so proud of the progress you have made. Also it is your money to use as you see fit.
ses -- the kitties are bringing you gifts to repay you for all you do for them. ;D
honey -- I know you did well on Friday.
Start -- Kudos for all your achievements! Hope your GP is better.
mizbear -- Wishing you well in getting everything set the way that would be the best for you.
Hope all feeling under the weather are doing better.
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pointy
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Post by pointy on Mar 25, 2012 8:32:21 GMT -5
update: 19/22 NS and 22/28 No QVC
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3catslady
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Post by 3catslady on Mar 25, 2012 15:25:16 GMT -5
I had lunch with my soon-to-be-x-DSIL and my cousin. We started at 11:45 am and left the place 4 hours later. We had a great time, laughing and crying over memories. Then we talked about the future. We are going to do this every month for the rest of our lives and we decided to do it while we can. One of the times we are going to go to my aunt's place and have lunch there because my aunt doesn't get out except to go to the family get togethers twice a year. This was not a spending day because I had the cash for the tip saved up from cash I had received from taking items back to the store. So my update is as follows: 24 NSD, 1/31 NEO.
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Rocky Mtn Saver
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Post by Rocky Mtn Saver on Mar 26, 2012 8:23:08 GMT -5
Well, no NSD's this weekend. Sunday would've been an NSD, but my friends talked me into going to see The Hunger Games. I had a great time, and used cash, so it's all good. Today won't be an NSD either, unfortunately, but we'll see how the rest of the week goes. It's the tail-end of the pay period, so I'm broke anyway!
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dakota4600
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Post by dakota4600 on Mar 26, 2012 9:04:20 GMT -5
Friday and Sunday were NS's. Saturday was a spend. We renewed our zoo membership and had lunch out. My baby is growing up . He is now technically tall enough to ride the carousel and skysarfari by himself. The carousel I can see, but the skysafari, no way would I let me almost 4 year old ride on it by himself. I know he is tall for his age, he is the same size or bigger than the 5 year olds in his class, but still that seems too young to ride a ski lift type ride across the zoo by themselves. Anyway we had a good weekend. AZmom- 3 days with no internet for me that would be a blessing in disguise. 3cats- Getting together with friends is a great way to make you feel refreshed. Rocky- Good luck making to the payday! Money- We had a ton of rain last week and that just seemed to kick all the plants and flowers into high gear and my allergies are awful right now. MK/Start- Yuck on the car repairs.
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azmom
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Post by azmom on Mar 26, 2012 11:07:08 GMT -5
BIG NEWS: My self-hosted site is now live anotherhousewife.com/It is really basic and bare bones because it has taken every ounce of my brain just to figure out what is up now. To kick it off I am doing a Pioneer Woman Cookbook giveaway! If you get a chance stop by, enter the giveaway and tell me what you think. ~No pressure or obligation~ Dakota: yes normally that would be a blessing but I was in the midst of trying to launch a self-hosted blog and that kind of ruined my big plans. It did force me to give special attention to my house and kids that have been lacking due to my non-techie self trying to get this going. Mrs. Lynch: AS ALWAYS has been a life saver and has held my hand during this process. Shannen: I went back to the blog thread you started a while back and used your step by step instruction to make a blogroll-again! Does anyone else find it silly that the word blog is not accepted by spell check? ~Happy No Spending~
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MittenKitten
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Post by MittenKitten on Mar 26, 2012 13:11:34 GMT -5
Hey all. Quite the weekend. Below is a ramble so feel free to skip.
Well the adventures with DS#2 continue. I think I told you all on St Paddy's day we found him IN the latched shed. At least we figured out he is NOT getting in from the deck to the collapsed roof, he was climing on my compost container then on top. We we moved the compost container. We were keeping an eye on him and from my garden wall, which is about 12" from the ground he was able to get on top of the shed roof. ARG. But that does take some serious strength since the roof was still over his head!
So Sunday we took DOWN the shed, put it in the truck to be disposed of and will purchase a new one very soon. First I need to buy tabs for the truck, get it up and running and get the shed pieces in there to the recycling place.
But not only is the truck not running NEITHER is the car. So DF had to take the van to work. My dad came to watch the kids so I could get to the dentist so I drove his truck there. Glad I am used to driving all kinds of vehicles. Now I can add a diesel vehicle to my list. I think to add to everything both the truck and car need batteries.
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MittenKitten
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Post by MittenKitten on Mar 26, 2012 13:18:28 GMT -5
money: Glad your allergies are doing better! Are you going to travel this summer?
azmom: Love the new website.
3cats: So glad you had a wonderful time! Are you feeling better?
dakota: I would be wigged out also and not let DD on that type of ride. In fact this is the first time I let my 8 YO on big rides (On Presidents day or MLK day this year.)
So I have started a new policy in our home. NO screen time from noon until 4 pm. This is a BIG change. Sat the kids were squirrelly but yesterday day since we had a mission they were very good. DSS helped a ton with the shed. DS#1 even helped a little. So as a treat I bought McDonald's. Since DSS likes to eat a lot I gave him a $5.00 limit. Then he wanted me to purchase a pop for $1.00. I told him no go on the pop, dad and I were not purchasing drinks and when we have pop in the house that cost me less then a dollar I was not willing to waste money. He did ask for a larger fry then which kept him below his limit so I said okay.
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redwagon
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Post by redwagon on Mar 26, 2012 14:57:17 GMT -5
azmom and money - thanks!!!
mitten - glad you figured out a solution to the shed situation!
azmom - congrats on the site!!!
Had a spendy weekend. Bought a dress for April weddings. Okay, bought two. I can't be in the same dress six times... It'll come out of my fun money this week. I also bought a journal to journal during pregnancy and babie's early years. Not sure when I'd give it to the baby, but I like the idea. And bought a few "grandma and me" books to give my mom as our way of telling her. Cannot wait to see her reaction next weekend. I also booked a hotel for Saturday night in Boston. DH is at a bachelor party, I am at a bachelorette party (for same couple) and we were both iffy on where we'd be sleeping. I could crash with the bridal party but didn't want to impose, plus I might end up wiped by 11pm when they want to party until 2am. I'd hate to be stuck and miserable and prego. So I sucked it up and booked us a room at a lower-cost hotel (yay HoJo) but it's still kinda pricey. I figured if we got a cheaper hotel outside the city we'd pay just as much in cab fare. Luckily next year we have no weddings to go to... so far. And a lot of the spending for this year's is already done.
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dakota4600
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Post by dakota4600 on Mar 26, 2012 16:01:41 GMT -5
RANT! Feel Free to skip
The house next to my parents' is in foreclosure and just went on the market for $21,000. Ridiculously cheap. DH & I briefly toyed with the idea of paying cash for it and rehabbing but decided since we want to sell our current house now is not the time. So DH's parents went to my parent's for dinner on Saturday (yes they really get along that well, we weren't there either) and my dad mentions the price of the house next door.
So on Sunday my MIL tells us they are going to go look at the house that afternoon to see about flipping it. We found out later that day that they are serious about buying it, but don't plan on flipping it, but fixing it up and "selling" it to my SIL. WTF! Why is it that someone with NO common sense and even less financial sense should be basically given a house. I admit I don't know the details, but even if they sold it to her for what the paid and put into it, it would be less than $50,000, her monthly payments would be less than rent just about anywhere and I'm guessing here that FIL would just draw up the paperwork and let her pay him instead of getting a real mortgage.
It annoys to no end that both sets of parents run to fix everything for our younger siblings, while DH & I work for everything that we have. Yes I know we'll be better off in the long run and I know we won't be bailing either sibling out when our parents are gone. It baffles me that DH & I are responsible adults and our siblings (to some extent) are still living off mom & dad. My brother has gotten much better since his wife went back to work about dealing with things himself, but I know mom & dad still help them out on occasion. I know my parents would help us if we needed it and I'm pretty sure DH's would too, but we'd have to be in dire straights to ask.
Just needed to get that off my chest before I go home and unload on DH who I know feels the same, but I'm sure doesn't want to hear it from me.
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