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JenOni

Finances

Moving is Planning, Packing, Donating and Unpacking


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Moving Begins

Planning

Moving has been a part of my life for the last 20 plus years.  I think I read that most individuals move at least 11 times throughout their lifetime.   I am well over that number if I count college and post college.   I have moved at least 1o times and it is a job and a half.   On my last move,  I put most of my furniture in storage.   In order to move all the furniture in a stress-free way, I hired a local moving and storage company.   In order to shave some of the costs of moving, I decided to pack the items we were going to put in storage.    The moving company disassembled all of the furniture and loaded all the boxes.   If you are selecting a storage company to make sure the storage unit is climate controlled.   This helps to protect and preserve your furniture if you have to keep it in storage longer term.  This is a great time to purge the old and replace with new items.  A new home is great timing for replacing your mattress!

Packing

I purchased moving boxes from Home Depot, sheets of paper to pack boxes, and packing tape.

Donating

After getting everything packed up I realized donating items makes more sense than trying to pack everything especially if you do not plan to use.   If you are planning to put items in storage, check with the company on the storage conditions.

 

 

Unpacking

After each move, I remember the unpacking process takes a lot of time.  I know we sat with unpacked boxes for a few months.  The biggest lesson with unpacking is to evaluate what to keep and why.  If it will no longer have a purpose, donate to Goodwill.  This will minimize clutter and eliminate boxes.

 

 

 


Weekly Deals 7/9-7/15 at Target

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Weekly Deals

Housewares

Up to 50% off Ninja coffee makers and blenders. Valid 7/9-7/12

30% off Dyson V6 Animal vacuum. Valid 7/9-7/12

50% off KitchenAid 10 piece Stainless Steel Cookware Set. Valid 7/9-7/12

$70 off a KitchenAid Classic mixer. Valid 7/9-7/12

40% off Hoover robotic vacuum. Valid 7/9-712

40% off Dyson Ball Origin. Valid 7/9-7/12

40% off Shark Navigator Lift Away XL. Valid 7/9-7/12

 

School Supplies

School supplies under $1! Valid 7/9-7/15

School supplies under $3! Valid 7/9-7/15

School supplies under $5! Valid 7/9-7/15

Up to 10% off kids’ character backpacks and lunchbags. Valid 7/9-7/15

20% off Spider-Man backpacks and lunch kits. Valid 7/9-7/15

Apparel

Promo code MERONA. Valid 7/9-7/15

Save up to 20% on Spider-Man clothing. Valid 7/9-7/15

 

Home Deals

Save 20% when you spend $60 in dining & entertaining. Valid 7/9-7/15

Save up to 40% off top brands in kitchen & dining. Valid 7/9-7/12

Save up to 20% on select floor care. Valid 7/9-7/15

Save up to 20% on storage & organization. Valid 7/9-7/15

Free $10 GiftCard when you buy 3 Tide, Charmin, Bounty, Downy or Bounce items. Valid 7/9-7/15

Save up to 15% off fans and air conditioners + save an extra 10% off when you pick up in store. Valid 7/9-7/15

Technology

Save $40 on Classic Bluetooth Stereo by Innovative Technology. Valid 7/9-7/15

Save $50 on Altec Lansing Omni Mini Waterproof Bluetooth Speakers. Valid 7/9-7/15

Save 40% on Polaroid 10″ tablet. Valid 7/9-7/15

 

 

weeklydeals

Le Tote Clothing Delivered to Your Doorstep Made Simple

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Le Tote is the answer to creating a wardrobe right at our fingertips.   Are you pressed for time to shop for yourself?  I know I am with school and activity schedules and kids are never in the mood to shop with parents.   Le Tote allows you to try, wear and return.   Don’t miss out on the savings below!

 


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Take 75% off 1st Month at Le Tote! Ends 6/30 – Use Code ’75TODAY’ and Save!

Financial Health : The How to Save in Every Decade Infographic

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Financial Health: How Much Should You Save?

Financial health is an important topic for women specifically single moms.   What happens when life throws you a curveball? Some major life changes can drastically impact your financial health such as illness, marriage, new baby, unemployment or divorce.   How do you prepare for the unexpected? As I have learned as a single mom with one income, the best way to prepare is to start early building your financial health.   The key is to save, invest, eliminate debt and set a budget so you are living within your means.

After separating and filing for divorce over 40,  I was forced to start rebuilding my finances.  Two years of unemployment with no additional streams of income made it an excruciating challenge.   In spite of these circumstances, my debt continued to accrue without a safety net.

Earnest, a lender that offers personal loan and student loan refinancing.   Below is a very informative infographic from Earnest on how to prepare financially for every decade.   It is never too late to get yourself on the right track.   The advantage is the earlier you start the better.    If you are interested in learning more on refinancing student loans, click refinance student loans.

 

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The Reality of Finances when Raising Children with One Salary

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Finances and the Reality of Raising Children with One Salary

Finances and raising children needs a serious reality check for some individuals.  In January 2017, a published reported stated a cost of raising a child as a married couple with two incomes is $233, 610 from birth to the age of 17. Although, I do not have a newborn being a divorced parent with two school-age children and one income is a major financial challenge.

For some reason,  it seems as if true expenses associated with raising children or trying to raise children effectively are overlooked.   The cost of living increases year over year and it entails more than housing, food, and clothing for children.    The additional expenses change each year as children get older.   For example, working full-time requires before and after care services.  There is no way around this expense if children are too young to come on their own.  Childcare is a yearly expense of $6,000 each year with an incremental increase each year.   It is a necessary expense and unavoidable.   During summer break, a camp is another expense which can range from $2,000 to $4,000 per child depending on the program.   Both of these expenses are critical for providing a safe and nurturing before and after school as well as during the summer months.

If children have an interest in playing sports there are expenses incurred.  Most townships offer sports programs for a fee each season.  In addition to the fee,  sports require some element of the uniform at my expense such as footwear, safety equipment, special clothing, etc.

Another expense is related to healthcare.   One of my children has a pre-existing condition which requires a monthly prescription with an out of pocket expense over $150.  This year my pediatrician changed the concentration of the medication and this increased the medication to over $200.  Yes, I do utilize my HSA to conver some of my healthcare expenses.   However, there the unfortunate times which require an emergency room visit.   In light of plans with deductibles,  there are costs for ER visits and overnight stays in a hospital.    There are hospitals that offer financial assistance to reduce medical bills.   I would suggest taking the effort to fill out the necessary paperwork.

Both children are in public schools.   September brings a new round of school supplies at my expense.  If after school clubs are offered, a fee is charged.   School trips have fees.   There are classroom events planned where parents are expected to contribute monetarily.   I am a firm believer of being a parent who is engaged on all levels of my children’s education.   This year my daughter wanted to play an instrument, there is a fee to rent the instrument for the school year.

Extracurricular activities such as vacations, day trips or cultural experience, sporting events are another expense.  Yes, some may these are not necessary.  My goal is to expose my children to as much as possible to nurture a well-rounded productive individual who can navigate in this world.

It is obvious some individuals are clueless when it comes to raising children beyond the necessities.   I think it is a waste of time to educate anyone on the how and why of parenting in the 21st century.    It is very despicable to me for individuals to provide the bare minimum and not be held accountable.   If it is a hard concept to grasp as far as what is required for financially supporting the well-being of children,  Google it!

 

 

Real Estate with Divorce is Either an Investment or a Nightmare

BUYING REAL ESTATE AND DIVORCE

The idea of buying real estate is a common investment after getting married.  I knew home ownership was a better financial investment than renting.   After getting married,  we planned to purchase our first home in a suburban area with a highly ranked school district.    In 1999,  interest rates were low and as a first-time home buyer, there were multiple programs available.   I pre-qualified for financing with my credit score,  income and 10% down.  Before, financing with one credit history fully consider the long-term implications.   The idea is dependent on how secure the other party is with making the decision.   If the credit history of the other party is not favorable you may run the risk of no financing or a higher interest rate.  Also, the other party needs to be secure with having no financial rights to the property.   The decision to purchase  based on my credit  felt like a logical decision.    A few years after purchasing the property, the mortgage company offered to refinance at a lower interest rate.   One lesson learned is to work on credit issues before deciding to purchase real estate.   Also, create a money reserve for financial emergencies such as loss of income, home repairs or any other unexpected expense is critical.

BUYING A SECOND PROPERTY

After gaining six years of equity, we made a decision to sell and buy a larger property.   I will be the first to say this was the worst financial decision.    In 2006, mortgage companies were a bit relaxed on qualifications for mortgages and a lot of buyers were encouraged to apply for adjustable rate mortgages.    An adjustable rate mortgage is an open invitation to financial destruction.   I say this especially if there is no financial reserve and if two incomes are not consistent.    If I fast forward three years after purchasing a new property, I found myself unemployed and filing for divorce.    After a year of unemployment, I moved out of the marital property.    This was the beginning of a financial nightmare.

DIVORCE: REFINANCE, BUY OUT, OR SELL

Although it was a martial property there were a few options to recoup some equity or break even.  The following options were explained by my attorney, 1) to refinance with only one mortgagor(removing the other party), 2)buy the other party out(not an option as I was unemployed), 3) sell the property(most logical).   I learned after buying a property a resounding term, “you pay, you stay”.    For option 1, I was not willing to remove my name off of a property in which I had a legal and financial right to, option 2 I was in no position to buy out the other party as I was unemployed and the other party was no position to buy me out either, option 3  was the most logical decision.   Selling the property quickly became a nightmare.    If a one party stays in the property and is unwilling to sell or cooperate with the sale it is doomed.   After I left the marital property, only one mortgage payment was paid that meant the mortgage went into default.  After numerous attempts at selling the property, multiple trips to court, the sale was sabotaged, property abandoned, and the bank foreclosed.

BEING PETTY or HANDLING BUSINESS

I have to point out there were exactly four years between mortgage default and foreclosure.  This was more than enough time to sell the property to one of the multiple interested buyers.  The fact remains that  pettiness prevented the sale of the property.   I went to court for a court order to force the sale of the property and vacate the property.  Both court orders were in contempt of court.   After the second court order to vacate the property was ignored, I stopped pursuing any additional court orders.  I had to pay my attorney each time we went before the judge which meant more legal fees.    In July 2013, the bank foreclosed and now my credit report has FORECLOSED PROPERTY in bold across my credit report for the next SEVEN YEARS.    Pettiness is not productive and serves no PURPOSE.

LESSONS LEARNED

I would encourage any woman who is contemplating buying a jointly owned property to determine affordability based on one income.     If this is a marital property, ensure there is a reserve in the event of loss of income or any other major expenses related to the property.    From my perspective, FORECLOSURE should never be an OPTION.   If possible buy REAL ESTATE with someone who gives a DAMN about their credit history.    It takes years to repair bad credit!

How to Purchase A Car with Low Credit Score

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After reading a post at  The Frugal Feminista blog,  on purchasing a car with a low credit score.   I learned so much and created my strategy for searching for a new vehicle.   It was perfect timing because my 2001 car had reached 198, 500+ miles and the engine light was on for two months.    I knew it was time to start looking for a new vehicle.   Despite the added expense, a  safe and reliable vehicle is a necessity with my commute to work as well as transporting the kids different places.    Last year my mechanic told me to eliminate any additional investment in the vehicle.  My inspection was just a month away and I knew in order to pass it would require a huge expense.  I purchased my vehicle 2005 with less than 40,000.   After reviewing my title paperwork, I realized my purchase was the best deal, especially with a good credit score.

Things I Learned:

  1.  Never use a leased vehicle to purchase next vehicle, the amount owed on the lease was added to the finance amount
  2.  Buy a vehicle that offers high depreciation value
  3.  Buy a vehicle that offers the best quality in terms of low maintenance
  4. Try to find a vehicle that is only 3 years old

 

Five Steps to Purchase with a low credit score

  1.  Identified a car dealership that offered a wide selection of makes and models
  2. Searched online for cars that were under $18,000 and low mileage
  3. Searched for makes that offer higher trade-in values (i.e. Nissan, Toyota, and Honda)
  4. Consulted with the dealership on credit and details about my trade-in
  5. Prepared to add down payment
  6. Check the VIN number for the history of the vehicle

I always talk about the power of social media.   Social media has afforded me the opportunity to connect with some phenomenal people and resources to educate myself on a number of topics.