Here are some articles that caught my eye this week….
Who knew a simple coffee filter could have so many creative uses???
Many families struggle with the conflicting desires to have a parent at home with the children vs. the need for that second income. It is a real challenge and usually requires some tough choices and sacrifices. There aren’t really right or wrong answers. It is really about desires and priorities.
I used to go frequently to the mall food court for lunch. Many times I’d think to myself I have a few minutes, I’ll just walk around and “look”. Often that look turned into buy and I’d walk out with something I didn’t really need. If you are prone to impulse shopping or if you know there are certain stores that tempt you, be careful. It’s not that you can never frequent those places. Just be wise enough to know your tendencies and be on guard. Don’t allow your momentary desire for something good to keep you from your greater goal of something great.
If you have student loans depending on your profession there may be options to get some or all of the remaining balance forgiven. Just be careful you don’t get yourself trapped in a job that you don’t like for 5 or 10 years in order to get a reimbursement. It is advisable if you are eligible for one of these programs to make “extra payments” on your loan like you would if you were paying it off. But instead of sending the payments to the lender keep them in a separate savings account. That way if you complete the program and get the loan forgiveness, you’ll have a nice little bonus in that account, but if you get the job offer of a lifetime or need to move because of family reasons or a host of other things that might force you to change jobs, you won’t be trapped in the forgiveness program.
If you are in your 60’s or older, long-term care insurance should be an important consideration. According to AARP, 35% of us will spend some time in a nursing home, with an average cost of more than $75,000 a year. An extended stay can easily crack and scramble that next egg you spent a lifetime building up. Since women often outlive men, the sad circumstance that often plays out is Grandpa gets sick and spends an extended time in the nursing home using up their retirement savings. Then grandma is left to live out her final days penniless. That’s not a place you want to be.
One of the things I have always loved about listening to the Dave Ramsey Show is the debt free calls. People call in to tell their story of how they became debt-free. When we were going through the process of paying off debts, I found those stories tremendously motivating. Recently, I heard the call below. It was one of the most inspiring and redemptive calls I ever remember. If Clay can make it back from where he was, you can do it too!!