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raeanna74 · 02-21-2005, 07:26 AM

Please forgive me when I brag a little here. But perhaps what we've managed will inspire or give ideas to someone else.

In NorthCentral Wis getting a factory job around $9-10/hr is good. Housings costs are around $400 for low-income or critter infested apartments (or $300 for the same in an efficiency) and good apartments are around $550 and up. We have a 3 person family so an efficiency is quite small for us. We bought a house this past September. We managed to find one that was a forecloser appraised at around $58k and we bought it with no money down for $47,500. It was a 4 bed, 1 bath home about 1500 sq ft home with a 2 car garage.We then refinanced just last month and the more recent appraisal was for $85 with our painting, recarpeting, and electrical improvements. The home is in excellent shape and in a good neighborhood. It took us around 6 months of hunting and paperwork to find and buy this place.
Now we're building equity instead of paying rent. Our rent prior to the purchase was $475/mo plus electric and buy lease renewal it was going up to $535/mo plus electric. Our mortgage payment now AFTER refinancing is only $506/mo plus all utilities. This refinancing means that we were able to pay off all outstanding debts including 2 credit cards (one at 25% interest that would have taken 37 years to pay off at minimum), a Dell loan, a old hospital bill, and now we have the money for hubby to do his car mod (yes, play money). We have no escrow account but have budgeted $35/week to our savings to pay for property taxes next year. We have eliminated all other debt, closed out credit cards, Opened a checking account at a new back that offers a free debit card so that we can make online purchases or reservations when needed and plan not to get a credit card for a long time.

We pay for a lot of things in cash and plan ahead for any larger purchases. We have no car loans now and we don't plan to get a new car any time soon. We have ONE mortgage and monthly utility bills. We also have good health insurance to help with those kind of unexpected things. So long as the car doesn't brake down we'll be good to go.

Hubby's job pulls in about $300/week net. I do home day care. I make around $100-160/week. The compensation is this. I am home to cut coupons, make my meals from home instead of using lots of prepared foods. I also have no day care costs which would cost me around $160+/week. If I were to earn $9/hr, subtract the usual taxes and social security, and then subtract gas and daycare I wouldn't be bringing home quite as much as I am now.

I make a lot of meals from scratch. I buy the lesser quality meats and then cook them all day (because I"m HOME all day) in the crock pot. By the time I'm done with them they're as tender as any higher quality meats. I buy only generic medications unless I've got a great sale and good coupon to bring the name brand ones down to the generic prices. For example I can pay $1.50 for Equate Acetaminophen instead of $3.79 for the same dosage and number of tablets of Tylenol brand Acetaminophen. There are some times when generic doesn't have the gastroenteric coating to make something less harsh on the stomach but most of the time generic is cheaper and they're under the same regulations here. I also shop at second had clothing stores for some things that I may need. Having a 4 yr old child - I'm constantly buying clothes for her since she grows out of them so fast. I can buy a good clean neat pair of jeans for her at the thrift store for $1.50 or $2.00. While at Walmart I have to pay around $8 for the cheapo sweatpants and $14 for the jeans (unless they're on sale at the end of the season (which I watch those sales closely too). I plan to have my own garden this year now that I have my own yard. I try to make grocery lists before I go to the store so I tend to get fewer extra things or doubles of things I already have. My grocery costs are significantly smaller when I make a list. Sometimes $25 or so less in cost. I never feel like I forget things then either. I buy Quick Trip milk when I have time to make the extra stop because it's sometimes $.25 to .50 less than a gallon at Walmart or the grocery. Sometimes almost $.75 less than other gas stations.

I just recently fixed up my dining room a little by recovering the chairs. I bought 2 yards of heavy fabric for $1/yard at Walmart, and I got 100 carpet tacks for $1.50. I recovered all four chairs and have enough to recover my stools as well. Gave myself a new look and renewed the look of my furniture for only $3.50 instead of buying new chairs.

I made my Halloween costume 2 years ago from scratch. I made Laura's first Christmas dress myself with no pattern. I made several maternity dresses while I was pregnant because you wouldn't believe how expensive those ugly materity things are that still don't fit your belly right. The cost for the material runs around $2.75-$5.00 (for the expensive materials) and I try to buy things on sale or a reminants. A dress or slacks for myself is around $8 or $9 for materials including buttons and elastic and things. An article of clothing for my daughter can run around $3 or $4 for all the parts and materials. Then I also know the quality of the clothing and can tailor it to fit us better. I don't make jeans because the materials plus the cost for the heavy duty needles and EXTRA time that those things require just isn't worth the effort.

Laura needed a toy box. I found one for $.25 at a rummage sale. Bought a $3.00 quart of kids washable paint. and repainted it and fixed it with a few nails. It's lasted her for 3 years now and looks pretty good still.

Yes I put a lot of time and effort into things. It's my way of PAYING for what I have. My parents taught me how to do a lot of things for myself. It's the best gift they ever gave me.

I hope this all makes sense.

Edit: I just wanted to add what our situation was only 3 1/2 years ago. We had 2 car loans, 3 credit cards, a $1000 hospital bill, the Dell loan/bill, and were paying around $350/mo for rent (had to hunt down a wold spider and several mice in that place). That's not counting our monthly expenses for utilities, groceries, and gas. Also I had a part time job and Hubby was jobless due to his injuries at the time. We've been there but we've gotten out - never would have believed it was possible 3 and 4 years ago. NEVER.

02-21-2005, 07:26 AM	#36 (permalink)
raeanna74 I'm not a blonde! I'm knot! I'm knot! I'm knot! Location: Upper Michigan	Please forgive me when I brag a little here. But perhaps what we've managed will inspire or give ideas to someone else. In NorthCentral Wis getting a factory job around $9-10/hr is good. Housings costs are around $400 for low-income or critter infested apartments (or $300 for the same in an efficiency) and good apartments are around $550 and up. We have a 3 person family so an efficiency is quite small for us. We bought a house this past September. We managed to find one that was a forecloser appraised at around $58k and we bought it with no money down for $47,500. It was a 4 bed, 1 bath home about 1500 sq ft home with a 2 car garage.We then refinanced just last month and the more recent appraisal was for $85 with our painting, recarpeting, and electrical improvements. The home is in excellent shape and in a good neighborhood. It took us around 6 months of hunting and paperwork to find and buy this place. Now we're building equity instead of paying rent. Our rent prior to the purchase was $475/mo plus electric and buy lease renewal it was going up to $535/mo plus electric. Our mortgage payment now AFTER refinancing is only $506/mo plus all utilities. This refinancing means that we were able to pay off all outstanding debts including 2 credit cards (one at 25% interest that would have taken 37 years to pay off at minimum), a Dell loan, a old hospital bill, and now we have the money for hubby to do his car mod (yes, play money). We have no escrow account but have budgeted $35/week to our savings to pay for property taxes next year. We have eliminated all other debt, closed out credit cards, Opened a checking account at a new back that offers a free debit card so that we can make online purchases or reservations when needed and plan not to get a credit card for a long time. We pay for a lot of things in cash and plan ahead for any larger purchases. We have no car loans now and we don't plan to get a new car any time soon. We have ONE mortgage and monthly utility bills. We also have good health insurance to help with those kind of unexpected things. So long as the car doesn't brake down we'll be good to go. Hubby's job pulls in about $300/week net. I do home day care. I make around $100-160/week. The compensation is this. I am home to cut coupons, make my meals from home instead of using lots of prepared foods. I also have no day care costs which would cost me around $160+/week. If I were to earn $9/hr, subtract the usual taxes and social security, and then subtract gas and daycare I wouldn't be bringing home quite as much as I am now. I make a lot of meals from scratch. I buy the lesser quality meats and then cook them all day (because I"m HOME all day) in the crock pot. By the time I'm done with them they're as tender as any higher quality meats. I buy only generic medications unless I've got a great sale and good coupon to bring the name brand ones down to the generic prices. For example I can pay $1.50 for Equate Acetaminophen instead of $3.79 for the same dosage and number of tablets of Tylenol brand Acetaminophen. There are some times when generic doesn't have the gastroenteric coating to make something less harsh on the stomach but most of the time generic is cheaper and they're under the same regulations here. I also shop at second had clothing stores for some things that I may need. Having a 4 yr old child - I'm constantly buying clothes for her since she grows out of them so fast. I can buy a good clean neat pair of jeans for her at the thrift store for $1.50 or $2.00. While at Walmart I have to pay around $8 for the cheapo sweatpants and $14 for the jeans (unless they're on sale at the end of the season (which I watch those sales closely too). I plan to have my own garden this year now that I have my own yard. I try to make grocery lists before I go to the store so I tend to get fewer extra things or doubles of things I already have. My grocery costs are significantly smaller when I make a list. Sometimes $25 or so less in cost. I never feel like I forget things then either. I buy Quick Trip milk when I have time to make the extra stop because it's sometimes $.25 to .50 less than a gallon at Walmart or the grocery. Sometimes almost $.75 less than other gas stations. I just recently fixed up my dining room a little by recovering the chairs. I bought 2 yards of heavy fabric for $1/yard at Walmart, and I got 100 carpet tacks for $1.50. I recovered all four chairs and have enough to recover my stools as well. Gave myself a new look and renewed the look of my furniture for only $3.50 instead of buying new chairs. I made my Halloween costume 2 years ago from scratch. I made Laura's first Christmas dress myself with no pattern. I made several maternity dresses while I was pregnant because you wouldn't believe how expensive those ugly materity things are that still don't fit your belly right. The cost for the material runs around $2.75-$5.00 (for the expensive materials) and I try to buy things on sale or a reminants. A dress or slacks for myself is around $8 or $9 for materials including buttons and elastic and things. An article of clothing for my daughter can run around $3 or $4 for all the parts and materials. Then I also know the quality of the clothing and can tailor it to fit us better. I don't make jeans because the materials plus the cost for the heavy duty needles and EXTRA time that those things require just isn't worth the effort. Laura needed a toy box. I found one for $.25 at a rummage sale. Bought a $3.00 quart of kids washable paint. and repainted it and fixed it with a few nails. It's lasted her for 3 years now and looks pretty good still. Yes I put a lot of time and effort into things. It's my way of PAYING for what I have. My parents taught me how to do a lot of things for myself. It's the best gift they ever gave me. I hope this all makes sense. Edit: I just wanted to add what our situation was only 3 1/2 years ago. We had 2 car loans, 3 credit cards, a $1000 hospital bill, the Dell loan/bill, and were paying around $350/mo for rent (had to hunt down a wold spider and several mice in that place). That's not counting our monthly expenses for utilities, groceries, and gas. Also I had a part time job and Hubby was jobless due to his injuries at the time. We've been there but we've gotten out - never would have believed it was possible 3 and 4 years ago. NEVER. __________________ "Always learn the rules so that you can break them properly." Dalai Lama My Karma just ran over your Dogma. Last edited by raeanna74; 02-21-2005 at 07:35 AM..