Money

When Frugal Costs You Money

by Kim on September 26, 2011

fcmFrugal, not cheap, but frugal is an important trait in those who are working toward becoming debt free and living in financial freedom to build wealth. I promote frugality to my clients. It is important to price shop, use coupons, by generic, etc.

There is a time however, when being frugal turns into being cheap and it starts to cost you money. Like the old saying goes, “the bitterness of poor quality remains long after the sweetness of low price is forgotten.” With that said, it is important to know where that line in the sand is between frugal and cheap.

For example, I have a friend who will drive 25 miles out of her way to save three cents per gallon of gas, now when you think about it, that extra 50 mile round trip to save .51 cents on a 17 gallon tank of gas. The trip most likely used up and extra 3 to 3.5 gallons of gas assuming she gets 12 to 15 miles to the gallon. So that savings of .51 cents for the cheaper gas cost an extra $9.80 if gas is $2.80 per gallon. That is an example of frugal turning cheap and costing you money.

Another thing to take into consideration when being frugal is the value of your time. Many times referred to as soft dollars. Sadly, many people do not actually put a value on their time. But your time is valuable and must be used wisely just as money must be spent wisely.

How do you put a value on your time? One way is to take your gross (before taxes) annual income and divide that by 2080 (number of working hours in a year based on a 40 hour work week) this will give you your hourly rate of pay from your job, so that hourly rate is a good starting point for a value on an hour of your time. What if you are a stay at home mom? Well, it is near impossible to put a value on stay at home moms because your service to the home and family is really invaluable, but non-the-less, your time is of value and must be used wisely to not take away from the kids, and other duties around the home, so you must determine what it would cost if you had a sitter watch the kids for an hour as well as the hourly rate of someone cleaning the house, add those two amounts up and that is a good starting place of your personal hourly value (of course you are worth much more because you do so much more.)

Using this thought process will help you to insure you are actually being frugal and wise with both money and time, verses being cheap and just looking at the dollars involved in spending rather than the whole savings picture.

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Husband – Man or Momma’s Boy?

by Kim on August 19, 2011

Whenever I am in the car I like to listen to talk radio.  Today I was listening to the Dave Ramsey show and he had an interesting call come in.

It was a man who was 30 years old, married with two small children.  The man said he made $45 thousand a year and had $90 thousand in credit card debt.  The man admitted he had a compulsive spending problem.  Dave asked him if he had a obsessive compulsive disorder or if he was just immature and unable to say no to himself.  The man admitted he was just immature and wanted what he wanted when he wanted it regardless of cost.

Here comes the topic of this post.

The man then went on to say that since he couldn’t control his spending, he has handed all of his money and finances over to his MOTHER for her to handle.  Yes, that’s right, a 30 year old man, who is married with two children is still having his mommy take care of him.

Dave Ramsey went on to tell this man that by allowing his mother handle his finances it would hurt his marriage and not help his finances.  The man totally agreed and stated it was already hurting his marriage.

The call reminded me that there are too many men who, after marriage, are not able or unwilling to emotionally leave the comfort of their mother.   They look at their wives and start to compare their wife to their mother.  When “life” happens, I have noticed that a man who is a “momma’s boy” will think to themselves, “my mom wouldn’t have done that” or “my mom kept the house better” or “my mom made “x” for dinner” etc.

You Didn’t Marry Your Mother

Men (if you are reading) you didn’t marry your mother, so stop comparing your wife to her.  The purpose of your mother was to nurture and raise you to be a man.  Sadly too many mothers had bad relationships with their husbands so they put their son in a supportive/companion position.  This is not healthy, not for the boy nor for the grown man.

No men, you married a women to be your wife, lover, and mother of your children…not your MOTHER, so don’t compare your wife to your mommy…..other than both being women, there are no other similarities and the two women in your life and the two women play two TOTALLY different rolls.

Men Leave Your Mother…

God knew there would be a problem with men being able to leave their mom’s, so much so the Bible says

the LORD made a woman out of the rib.   The LORD God brought her to the man, and the man exclaimed,  “Here is someone like me!  She is part of my body,  my own flesh and bones.   She came from me, a man.    So I will name her Woman!” That’s why a man will leave his own father and mother. He marries a woman, and the two of them become like one person. Genesis 2:22-24CEV

and

Jesus answered, “Don’t you know that in the beginning the Creator made a man and a woman? That’s why a man leaves his father and mother and gets married. He becomes like one person with his wife. Then they are no longer two people, but one. And no one should separate a couple that God has joined together.” Matthew 19:4-6 CEV

Dave Ramsey closed the call by setting this man up to attend Financial Peace University, a 13 week course in money management and also told him that a women wants a MAN who can take care of himself and his family.  This is not to say that it isn’t important for an adult man to take care of his elderly mother, but taking care of a mother out of responsibility vs being emotionally attached to a mother instead of your wife are too totally different things.

An adult man having his mother handle his finances,  iron his shirts, do his laundry, etc. rather than at home, etc.  is very unattractive to a women, especially a wife.  Short of an affair, a mother can come between a husband and a wife unless the boy grows up and becomes the MAN the women married.

Be A  Man

So men, grow up and be a MAN.  Tell your mother you love her but your first responsibility and priority is your wife.  Men, don’t allow your mother to talk poorly about your wife, understand that a mother wants you to be her #1 priority and will manipulate you in order for you to put your wife second.  Mothers have a great way of making a man feel guilty, time to tell your mom NO.

You are married, GROW UP, BE A MAN,  put your wife comes first…ALWAYS!

 

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Loyalty

April 4, 2011

Have you ever considered the meaning of the word “loyalty?”  Dictionary.com defines loyalty in part as faithfulness to commitments or obligations. Most of you reading this have at least one good friend.  Someone who is loyal to you.  Many of you have a spouse whom you consider to be loyal.  There are some who consider [...]

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Cat’s In The Cradle

January 26, 2011

This last week a friend of mine worked all day Sunday in addition to working a full 5-day week.  His company requested he perform this work on Sunday because it needed to be performed during “non-production” hours.   Sure my friend could have said “no” but it may have been at the cost of any future [...]

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Life & Finances

October 4, 2010

Most of you know how important marriage is to me, and how important it is to be all you can be and strive to continually improve who you are.  To be a person of character, build your relationship with Christ and be loyal to those who you love and those you love.  What you may [...]

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Secrecy Kills Trust

August 27, 2010

A recurring theme that I continue to see in the lives of couples is secrecy about spending money as well as about how much money is being made and or saved.  Sadly, I have also found that if someone is being secretive about money, chances are they are being secretive about other things as well. [...]

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Ultimate Get Out Of Debt Guide

June 18, 2010
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This isn’t just another ebook that contains a bunch of worthless information. It is a get out of debt course, with proven principles. The information is priceless, and works!

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I’m Broke…..

June 3, 2010
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“I’m Broke….But my kids are happy.” This is what the lady in front on me at Kmart said yesterday when we were inline as she was unloading a cart full of toys.  She went on to say she had two kids and their birthday’s were coming up. Her posture confirmed her words, she seemed defeated….broke. [...]

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Universal Default Clause

May 26, 2010
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Much of  spending  done on credit cards with the “promise” of zero interest for so many months, or a low interest rate as long as you make your payments on time. But is it really that simple? No it is not. Credit card companies trick you, well they actually just play dirty.  They use a [...]

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It Is Not About Income

May 18, 2010

Becoming wealthy is not about the amount of money you make. Stop laughing, it is true, as soon as you stop thinking you are going to gain wealth by making more then the quicker you will gain wealth. You get rich from educating yourself. You must learn how to manage your money, discipline yourself with [...]

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I Lost My Job…Now What?

April 7, 2010

Short of losing a loved one either through divorce or death, losing your job is one of the most stressful life changing  events you will experience.  It is stressful both emotionally and physically.   It can be a huge knock to your self esteem.  You may feel like a failure.  In some cases, you may have [...]

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