bookkeeper
Well-Known Member
Joined: Mar 30, 2012 13:40:42 GMT -5
Posts: 1,722
|
Post by bookkeeper on Aug 17, 2014 10:29:10 GMT -5
I think we reached a million dollars in net worth by having a high percentage of our money in the stock market but getting out when it was hitting some extreme highs ( we've done that twice ) and going back in when it was low ( we are now following Jim Stack's signals so we're still in at this point ), keeping a fairly tight control on expenses, especially since we have to maintain 3 buildings instead of just one like many homeowners, saving vigorously so that we will have a good lump of cash for investments in real estate, not being afraid to make sacrifices, working hard, and practicing deferred gratifications at times. We would live a much more luxurious life if we spent our savings and investments, but we'd be sacrificing our long-term security. Also, unlike my mother and sister, I don't need everything to be of the finest quality. I would like to eventually get granite countertops in one of the houses which we own after we move there, but right now, it's a rental, and we don't need tenants gorking up our nice new countertops. So, they live with white formica countertops. When we move in, we'll update the kitchen counters, but keep the same cabinets. They'll need a paint job, but that should be it. We also drive cars to death, and have no problems riding around in an twelve year old car ( DH's 2002 Mazda Protege ). We also try to figure out inventive ways to save money, to wit: While I was mowing the lawn tonight with our 30 y.o. Honda electric mower, I just figured out how we can make our own checks, and never buy another box of checks again. (We don't write out that many checks, but a box of checks is so expensive now ). It should be easy with our color printer and a little White Out to get rid of the check numbers. I figure we can make pages of 4 for our 3 checking accounts, and just cut them out. When we need to write a check, we just fill in the next check number. We have checkbook covers and registers coming out of our ears, so we don't need to get any more of those. Viola ! Free checks ! I've retired at the age of 61 so that we can enjoy our years together, and if we weren't thrifty people and bold investers/savers, I wouldn't have been able to do so. We hope to hit our second million in about 6 years. The MICR numbers at the bottom of the check with your bank's routing number and your account number are printed in magnetic ink.
That is how the automated machinery reads your checks when they clear through the federal reserve. If you print checks on your home printer, I would think there would be a good chance they will be returned to you as unable to process. You might want to check with your bank on this one before giving it a try. Some banks have outrageous service charges for returned checks.
|
|
NoNamePerson
Distinguished Associate
Is There Anybody OUT There?
Joined: Dec 17, 2010 17:03:17 GMT -5
Posts: 25,906
Location: WITNESS PROTECTION
|
Post by NoNamePerson on Aug 17, 2014 10:52:44 GMT -5
Nazgul Girl Just curious what you call expensive. I don't write many checks either and I just reordered a box. Cost $26 and it will last me for probably 2+ years. bookkeeper make a good point about copying checks on a home printer. Could cause you a world of hurt but never done it so can't be sure. ![](http://syonidv.hodginsmedia.com/vsmileys/idunno.gif)
|
|
Nazgul Girl
Junior Associate
Babysitting our new grandbaby 3 days a week !
Joined: Dec 25, 2010 23:25:02 GMT -5
Posts: 5,913
Today's Mood: excellent
|
Post by Nazgul Girl on Aug 17, 2014 12:24:36 GMT -5
I think we reached a million dollars in net worth by having a high percentage of our money in the stock market but getting out when it was hitting some extreme highs ( we've done that twice ) and going back in when it was low ( we are now following Jim Stack's signals so we're still in at this point ), keeping a fairly tight control on expenses, especially since we have to maintain 3 buildings instead of just one like many homeowners, saving vigorously so that we will have a good lump of cash for investments in real estate, not being afraid to make sacrifices, working hard, and practicing deferred gratifications at times. We would live a much more luxurious life if we spent our savings and investments, but we'd be sacrificing our long-term security. Also, unlike my mother and sister, I don't need everything to be of the finest quality. I would like to eventually get granite countertops in one of the houses which we own after we move there, but right now, it's a rental, and we don't need tenants gorking up our nice new countertops. So, they live with white formica countertops. When we move in, we'll update the kitchen counters, but keep the same cabinets. They'll need a paint job, but that should be it. We also drive cars to death, and have no problems riding around in an twelve year old car ( DH's 2002 Mazda Protege ). We also try to figure out inventive ways to save money, to wit: While I was mowing the lawn tonight with our 30 y.o. Honda electric mower, I just figured out how we can make our own checks, and never buy another box of checks again. (We don't write out that many checks, but a box of checks is so expensive now ). It should be easy with our color printer and a little White Out to get rid of the check numbers. I figure we can make pages of 4 for our 3 checking accounts, and just cut them out. When we need to write a check, we just fill in the next check number. We have checkbook covers and registers coming out of our ears, so we don't need to get any more of those. Viola ! Free checks ! I've retired at the age of 61 so that we can enjoy our years together, and if we weren't thrifty people and bold investers/savers, I wouldn't have been able to do so. We hope to hit our second million in about 6 years. The MICR numbers at the bottom of the check with your bank's routing number and your account number are printed in magnetic ink.
That is how the automated machinery reads your checks when they clear through the federal reserve. If you print checks on your home printer, I would think there would be a good chance they will be returned to you as unable to process. You might want to check with your bank on this one before giving it a try. Some banks have outrageous service charges for returned checks.
Oh, I didn't know that fact about the magnetic ink. So much for producing our checks at home ![](http://images.proboards.com/new/smiley.png) .
|
|
Nazgul Girl
Junior Associate
Babysitting our new grandbaby 3 days a week !
Joined: Dec 25, 2010 23:25:02 GMT -5
Posts: 5,913
Today's Mood: excellent
|
Post by Nazgul Girl on Aug 17, 2014 12:28:32 GMT -5
Nazgul Girl Just curious what you call expensive. I don't write many checks either and I just reordered a box. Cost $26 and it will last me for probably 2+ years. bookkeeper make a good point about copying checks on a home printer. Could cause you a world of hurt but never done it so can't be sure. ![](http://syonidv.hodginsmedia.com/vsmileys/idunno.gif) We pay various workmen in checks, so we do write out some, plus we pay our property and income taxes and some other items by check, and sometimes transfer money between checking accounts at our banks by writing a check and depositing it, since sometimes the banks charge a transfer fee of $ 3.95 when funds are going from one bank to another, so we do use several checks per account per month. I guess a box lasts us about a year to a year and half for each bank. But still, I could make them at home for almost nothing. I could look into a program to make our own checks, but we'd still have to buy the check stock paper to print them on, plus, I guess, get a cartridge for the magnetic ink. It wouldn't be cost effective. ![](http://images.proboards.com/new/tongue.png)
|
|
NoNamePerson
Distinguished Associate
Is There Anybody OUT There?
Joined: Dec 17, 2010 17:03:17 GMT -5
Posts: 25,906
Location: WITNESS PROTECTION
|
Post by NoNamePerson on Aug 17, 2014 13:09:19 GMT -5
Gotcha!!!
|
|
midjd
Administrator
Your Money Admin
Joined: Dec 18, 2010 14:09:23 GMT -5
Posts: 17,719
|
Post by midjd on Aug 17, 2014 15:01:48 GMT -5
You can order checks from Vistaprint for ~$10 a box.
|
|
MN-Investor
Well-Known Member
Joined: Dec 20, 2010 22:22:44 GMT -5
Posts: 1,953
|
Post by MN-Investor on Aug 17, 2014 15:02:12 GMT -5
We pay various workmen in checks, so we do write out some, plus we pay our property and income taxes and some other items by check, and sometimes transfer money between checking accounts at our banks by writing a check and depositing it, since sometimes the banks charge a transfer fee of $ 3.95 when funds are going from one bank to another, so we do use several checks per account per month. I guess a box lasts us about a year to a year and half for each bank. But still, I could make them at home for almost nothing. I could look into a program to make our own checks, but we'd still have to buy the check stock paper to print them on, plus, I guess, get a cartridge for the magnetic ink. It wouldn't be cost effective. ![](http://images.proboards.com/new/tongue.png) You might want to check out paying some of these things online. I pay our property taxes online (a transfer from my checking account to the county). It costs me nothing. I also pay Mom's property taxes that way. Her county, however, charges $1. You can pay federal taxes online. You can probably pay your state taxes online too. Not only do you save a check by paying online, but you also know that the money was received. Extra tip - they all give you a confirmation code. You can print that out. Do so. BUT, instead of printing to paper, print it to a pdf file. If you don't have a pdf printer app on your computer, you can download a free one such as PrimoPDF.
|
|
resolution
Junior Associate
Joined: Dec 20, 2010 13:09:56 GMT -5
Posts: 7,047
Mini-Profile Name Color: 305b2b
|
Post by resolution on Aug 17, 2014 16:29:45 GMT -5
You may want to check with your bank to see if they have a different type of checking account that offers free checks. We had just used our bank's free checking, but when they added a monthly fee we changed to "relationship checking" which has no fees and gives us free checks and a discount on our safety deposit box. There was a minimum balance requirement, but it was substantially lower than what we were holding in savings anyway.
|
|
bimetalaupt
Senior Member
Joined: Oct 9, 2011 20:29:23 GMT -5
Posts: 2,325
|
Post by bimetalaupt on Aug 17, 2014 16:36:54 GMT -5
You may want to check with your bank to see if they have a different type of checking account that offers free checks. We had just used our bank's free checking, but when they added a monthly fee we changed to "relationship checking" which has no fees and gives us free checks and a discount on our safety deposit box. There was a minimum balance requirement, but it was substantially lower than what we were holding in savings anyway. TRUE BUT THAT POINT IS AS FINE AS FROG HAIR! ![](http://syonidv.hodginsmedia.com/vsmileys/bat.gif) MY LATE FATHER IN LAW DID SAY I WAS TOO MUCH LONG TERM THINKING AND TOO MUCH INTO "FROG HAIR" RATHER THEN TRUE RELATIONSHIPS. -heart-IT WAS ME THAT HAD TO PAY THE BILLS: JUST A LONG RATING OF ASSETS AND LONG TERM DEDICATION TO THE ONES YOU LOVE AND DEPEND ON YOU. ![](http://syonidv.hodginsmedia.com/vsmileys/palm.gif) Just a thought, BiMetalAuPt ![](http://syonidv.hodginsmedia.com/vsmileys/nerdy.png)
|
|
phil5185
Junior Associate
Joined: Dec 26, 2010 15:45:49 GMT -5
Posts: 6,410
|
Post by phil5185 on Aug 17, 2014 16:53:04 GMT -5
Picking the fly shit out of the pepper?
|
|
Nazgul Girl
Junior Associate
Babysitting our new grandbaby 3 days a week !
Joined: Dec 25, 2010 23:25:02 GMT -5
Posts: 5,913
Today's Mood: excellent
|
Post by Nazgul Girl on Aug 17, 2014 17:30:18 GMT -5
Vistaprint looks like a pretty good company. Thanks for the info. That's where I'll get our next checks from.
|
|
bimetalaupt
Senior Member
Joined: Oct 9, 2011 20:29:23 GMT -5
Posts: 2,325
|
Post by bimetalaupt on Aug 17, 2014 17:52:56 GMT -5
|
|